SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) is a tool sometimes used in Value Methodology, particularly during the Information Phase or Evaluation Phase, to assess the context of a project or product, as taught in the VMF 1 course (Core Competency #3: Value Methodology Job Plan). According to SAVE International’s Value Methodology Standard, “SWOT analysis evaluates internal and external factors: Strengths and Weaknesses are internal attributes of the system or organization, while Opportunities and Threats are external attributes from the environment.”
Strengths: Internal, helpful attributes (e.g., strong design team).
Weaknesses: Internal, harmful attributes (e.g., high production costs).
Opportunities: External, helpful attributes (e.g., market demand).
Threats: External, harmful attributes (e.g., regulatory changes).
This framework helps the VM team identify factors that could impact the study’s success, such as external opportunities to leverage or threats to mitigate.
Option A (Strengths and opportunities are internal attributes) is incorrect because opportunities are external, not internal.
Option B (Threats and strengths are harmful attributes) is incorrect because strengths are helpful, not harmful.
Option C (Strengths and weaknesses are helpful attributes) is incorrect because weaknesses are harmful, not helpful.
Option D (Opportunities and threats are external attributes) is correct, as both are external factors in SWOT analysis.
[:, SAVE International, VMF 1 Core Competency #3 (Value Methodology Job Plan), noting the use of SWOT analysis to assess internal and external factors., SAVE International, “Value Methodology Standard,” section on analytical tools, defining SWOT analysis and its categories., , ]
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