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Concepts in business have an ever changing face. However, the SWOT analysis is something that has remained the same. SWOT is an acronym for Strengths, Weakness, Opportunities and Threats. In a world of continuous process improvement, not preforming a SWOT analysis can make or break a new project. Strengths are something the project manager must evaluate even before accepting a new project. Whether they are personal strengths or business related strengths they must be recognized. Weakness in any area can cause mayhem in any area of a project. The weakness must be immediately recognized in an effort to turn the weakness into a strength. opportunities are just that. One must be cognizant of an opportunity that is placed before him or her to expand on the strengths. All opportunities are not blatant. Being able to read between the lines can only enable a strong employee to become stronger. Threats must be combated. Any potential threat that could jeopardize progress of a new project and ultimately halt implementation of a new project must be tackled accordingly. While each new project is different and has its own set of criteria, the SWOT analysis will remain universal.
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