Construction projects are among the most dynamic endeavors in any business industry around the globe. If not managed and facilitated properly, a lot could go wrong, which could lead to significant financial losses. So if your own company is about to embark on such a project, conduct a Strengths Weaknesses Opportunities and Threats (SWOT) analysis first. SWOT analysis is an integral component in any form of project management. It allows you to anticipate any possibility that can happen in a project. To be effective in conducting a SWOT analysis, utilize our Construction SWOT Analysis Templates in Apple Pages. These ready-made files are well-established SWOT analysis documents. You just have to input the specifications of your construction project. No need to start from scratch. Start planning your construction project by downloading these templates now!
How to Create a Construction SWOT Analysis in Apple Pages
An article from TheConstructor.org states that there are four major risks in the projects of the construction industry. These risks namely are environmental risks, socio-political risks, financial risks, and construction-related risks. They have the potential to derail a construction project, and ultimately lead it to failure. However, the threat of those risks can be anticipated and avoided by conducting a SWOT or TOWS matrix analysis during the planning phase of the construction project. So if you have upcoming construction endeavors, our simple guide below in creating a construction SWOT analysis in Apple MAC Pages will certainly help you.
1. Identify Project Goals
Among the very first things to do in project planning is to identify the goals of the project. Since a SWOT analysis is a form of project planning, execute this process. State them one by one on the document. The goals and objectives of your construction project will be essential in identifying strengths, weaknesses, opportunities, and threats.
2. Determine the Advantages
In this process, you have to examine what assets, resources, and other positive factors that your construction company has to make the project a success. Elaborate about them on the Strengths category of the document. Other advantages that your company currently doesn't have, but will be achieved as the project progresses are the Opportunities. Identify and enumerate them as well.
3. Determine the Disadvantages
This step is basically similar to the previous one. But in this case, you have to assess the liabilities, lack of resources, and other negative factors that may derail the construction project as it progresses. This could be financial shortcomings, inadequate manpower, and many more examples. One of the things you must do for this matter is a thorough financial analysis and risk assessment. Make sure to state your findings on the Weaknesses and Threats category accordingly.
4. Identify All Stakeholders
In a construction project, a lot of entities are involved, all of which play a significant role as the project progresses. If your project is a major one, such as a corporate building or real estate property, for sure, its stakeholders are big-time marketing businesses and personnel. Large sums of money and assets are on the line. That said, you must identify all of the project's stakeholders to have a better grasp in conducting the SWOT analysis.
5. State Your Conclusion
After identifying and analyzing everything that needs to be assessed for your upcoming construction project, you must state a thorough conclusion of your findings. Generalize both the positive factors and negative factors in one statement. See to it to highlight all the major facts on your SWOT analysis conclusion. The findings and results of your SWOT analysis document can be utilized as a reference for your contingency plans. Moreover, we strongly advise you to work closely with your co-project managers.
