SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis

Among other methods used in defining risk, the SWOT method is probably those single most widely applied practical tool. At its core is a diagrammatic approach that identifies "strengths, weak­nesses, opportunities and threats" by developing a flowchart of the expected sequence of project execution. Like expert interviews, checklists and documentation review, this approach develops a new document on the basis of information gathered and recorded earlier in other formats.