Balanced Value Impact Model

SWOT analysis

SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats.  A SWOT analysis is a useful planning tool used near the beginning of a project or process.  It is relatively simple to carry out, but can offer some powerful insights  into a new venture. A SWOT analysis is often a significant part of a situation analysis.

Strengths are those attributes or activities related to the digital resource that are expected to perform better than most in the organisation’s environment. At this stage, building the selection of strengths is based on the organisation’s normal, expected requirements for success.

Weaknesses are those attributes or activities related to the digital resource that could be improved to increase the probability of success. Identify the predictable weaknesses that would affect the probability of ‘success’ for the digital resource. These may be known if the assessment starts after the resource is established, or may be predictable in the context of an upcoming implementation. 

Opportunities are those externally focused attributes or activities that may affect the future success of the endeavour. These are likely to be an area of great interest for impact assessment and are often likely to be the product of underlying trends or conditions developing or appearing within the ecosystem for that digital resource. Two suggested activities to help with this process include maintaining a continuous review of the literature and benchmarking inside and outside the organisation to identify and evaluate potential opportunities.

Threats are those attributes or activities related to the digital resource that are obstacles to the accomplishment of goals. What will or is getting in the way of success? Threats differ from weaknesses, as they may be beyond the scope of an easy solution or change in reaction to the threat, which is usually external. 

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