Understanding SWOT Analysis and Reviews
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Questions and Answers

What are the factors that can describe the impact of a risk?

Cost, duration, solution scope, solution quality, reputation, compliance, and social responsibility.

How is the level of a given risk typically expressed?

As a function of the probability of occurrence and the impact, often calculated by multiplying them.

What are the main approaches for treating risks?

Avoid, transfer, mitigate, accept, and increase.

How can risks be prioritized according to urgency?

<p>Risks expected to occur in the near term are prioritized higher than those expected to occur later.</p> Signup and view all the answers

What determines if the level of risk is acceptable during evaluation?

<p>The risk analysis results are compared against the potential value of the change or solution.</p> Signup and view all the answers

What is one limitation of a SWOT analysis?

<p>A SWOT analysis may provide an unfocused result if a clear context is not defined.</p> Signup and view all the answers

What are the dimensions that differentiate types of reviews conducted for work products?

<p>The dimensions include objectives, techniques, and participants.</p> Signup and view all the answers

Why is feedback from reviewers important in the review process?

<p>Feedback from reviewers is used to update and improve the work product.</p> Signup and view all the answers

What is the primary focus of a review?

<p>A review focuses on the work product rather than the skills or actions of the participants.</p> Signup and view all the answers

What may be included in a review for a completed work product?

<p>A review for a completed work product may include an overview, checklists, and documentation of findings.</p> Signup and view all the answers

When is a review conducted for work in process?

<p>A review for work in process is conducted to resolve an issue or question.</p> Signup and view all the answers

How are review objectives communicated to participants?

<p>Review objectives are clearly communicated to all participants prior to the review.</p> Signup and view all the answers

What is the primary goal of risk identification?

<p>To identify a comprehensive set of relevant risks and to minimize the unknowns.</p> Signup and view all the answers

How do stakeholder consultations influence risk management?

<p>They help to both identify new risks and monitor identified risks.</p> Signup and view all the answers

What is a risk register and its purpose?

<p>A risk register is a document that describes each risk and supports the analysis and planning for addressing them.</p> Signup and view all the answers

Name two methods through which risks are identified.

<p>Expert judgment and stakeholder input.</p> Signup and view all the answers

What does the analysis of a risk involve?

<p>It involves understanding the risk and estimating its level.</p> Signup and view all the answers

Explain the difference between a risk event and a risk condition.

<p>A risk event is an occurrence, while a risk condition is a situation or combination of situations that may lead to risk.</p> Signup and view all the answers

How can the likelihood of a risk occurrence be expressed?

<p>It can be expressed as a probability or with values such as Low, Medium, and High.</p> Signup and view all the answers

What is meant by 'ongoing activity' in risk management?

<p>It refers to the continuous process of identifying, analyzing, and addressing risks throughout a project.</p> Signup and view all the answers

Why is it important to have sufficient controls in place for risk management?

<p>To avoid, reduce, or modify risks that could negatively affect the solution's value.</p> Signup and view all the answers

What factors may influence the consequences of a risk?

<p>The impact of the risk on the potential value and various combinations of events or conditions.</p> Signup and view all the answers

What is the primary focus of the inspection technique during a review?

<p>The primary focus is to remove defects and create a high-quality work product.</p> Signup and view all the answers

How does a formal walkthrough differ from the inspection technique?

<p>A formal walkthrough utilizes individual review and team consolidation, similar to inspections, but is less structured.</p> Signup and view all the answers

Describe the purpose of a single issue review.

<p>A single issue review focuses on a specific issue or standard, examining the work product carefully before resolving the matter.</p> Signup and view all the answers

What is meant by an informal walkthrough in the context of review techniques?

<p>An informal walkthrough involves a business analyst presenting the draft work product to solicit direct feedback from reviewers.</p> Signup and view all the answers

What is a desk check and how is it conducted?

<p>A desk check is an informal review where an uninvolved reviewer provides verbal or written feedback on the work product.</p> Signup and view all the answers

In what situation might a pass around technique be most effective?

<p>The pass around technique is most effective when multiple reviewers are needed to provide feedback on the same work product.</p> Signup and view all the answers

What are some objectives of conducting reviews of work products?

<p>Objectives may include removing defects, ensuring conformance to standards, and measuring work product quality.</p> Signup and view all the answers

Identify one benefit of using peer reviews during the review process.

<p>One benefit is that peer reviews foster collaboration and improve the quality of the work through shared knowledge.</p> Signup and view all the answers

What is the general benefit of carrying out formal versus informal review techniques?

<p>Formal review techniques provide structured, detailed assessment, while informal techniques allow for quicker, more casual feedback.</p> Signup and view all the answers

What is the primary purpose of ad hoc reviews in business analysis?

<p>The primary purpose of ad hoc reviews is to seek informal assistance or feedback from peers.</p> Signup and view all the answers

Why is it important for a moderator to manage the involvement of supervisors during a review?

<p>It is important to ensure that the supervisor's presence does not hinder the openness of other participants.</p> Signup and view all the answers

How can early identification of defects benefit a work product's life cycle?

<p>Early identification of defects can eliminate the costly removal of defects discovered later in the life cycle.</p> Signup and view all the answers

What is a significant limitation of rigorous team reviews?

<p>A significant limitation is that they require considerable time and effort, making them impractical for all work products.</p> Signup and view all the answers

What challenge might arise when conducting desk checks and pass around reviews?

<p>A challenge is validating that each participant conducted an independent review.</p> Signup and view all the answers

What role does risk analysis play in project management?

<p>Risk analysis involves identifying, analyzing, and managing uncertainties that could negatively affect value.</p> Signup and view all the answers

In what way do informal reviews differ from formal reviews?

<p>Informal reviews are practical and less resource-intensive, though they provide less assurance of defect removal.</p> Signup and view all the answers

What is a potential drawback of discussing review comments via email?

<p>A potential drawback is the difficulty in processing numerous messages, which can hinder resolution of disagreements.</p> Signup and view all the answers

Why might only critical work products be reviewed using inspection techniques?

<p>Because inspection techniques are time-consuming and require significant effort, limiting their application to high-priority tasks.</p> Signup and view all the answers

What is the vested interest of participants in a review process?

<p>Participants have a vested interest in ensuring a quality result, as it impacts their work and the project's success.</p> Signup and view all the answers

Flashcards

SWOT Analysis

A high-level analysis tool that provides a general overview of an organization's strengths, weaknesses, opportunities, and threats.

Context in SWOT Analysis

When the context of a SWOT analysis is not clearly defined, it can lead to unfocused results and irrelevant factors.

Reviews

Formal or informal assessments used to evaluate the contents of a work product.

Objectives in Reviews

The objectives of a review clearly define its purpose and scope.

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Techniques in Reviews

Reviews can be conducted using various techniques, such as formal meetings or informal feedback sessions.

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Participants in Reviews

The individuals involved in the review process, including the work product producer and other stakeholders.

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Focus of Reviews

Reviews focus on the content and quality of the work product, not the skills or performance of the individuals involved.

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Ad hoc review

An informal review where a business analyst seeks feedback or support from a colleague.

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Review Participants

The people involved in a review, their roles depend on the review's purpose, chosen technique, and company guidelines.

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Review Strengths

Early defect identification in the work product lifecycle. Engaging all reviewers in a quality outcome. Convenient timing for desk checks and pass-around reviews.

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Review Limitations

Formal reviews require time and effort, making them suitable for critical products. Informal reviews are efficient but offer less assurance than larger teams.

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Risk Analysis & Management

Addressing potential issues that could impact project value by identifying, analyzing, and evaluating risks.

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Inspection

A formal review process using a checklist, focusing on a specific work product.

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Walkthrough

A guided walk-through of a work product, focusing on identifying potential issues. Often done by a group.

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Desk Check

An informal review where a reviewer checks the work product independently.

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Pass Around Review

An informal review process where the reviewer checks the work product at their convenience and passes it on to the next reviewer.

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Review Moderator

The leader of a review, guiding discussions and ensuring a productive process.

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Single Issue Review (Technical Review)

A formal technique which focuses on one specific issue or standard. Reviewers carefully examine the work product before a joint review session.

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Formal Walkthrough (Team Review)

A formal technique that uses individual review and team consolidation activities. It's used for peer reviews and stakeholder reviews.

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Risk Impact

The potential effects of a risk can be categorized based on different factors like cost, duration, scope, quality, or even reputation, compliance, or social responsibility. These factors are agreed upon by all stakeholders involved.

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Informal Walkthrough

An informal technique where the business analyst presents the work product in its draft state and gathers feedback. Reviewers may do minimal preparation beforehand.

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Risk Level

The level of risk is determined by considering the probability of the risk happening and the impact it would have. A simple multiplication of these two factors can be used to calculate the level.

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Risk Level Categories

Different levels of risks are defined based on their potential impact. This helps prioritize risks and decide what actions to take. Typically, 3 to 5 broad categories are used to represent different levels of impact.

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Pass Around

An informal technique where multiple reviewers provide feedback, either verbally or in writing. The work product can be reviewed in a shared copy or passed around.

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Review Objectives

The objectives of a review may involve several goals, including removing defects, ensuring compliance with specifications or standards, ensuring completeness and correctness of the work product, achieving consensus on an approach or solution, answering questions, resolving issues, exploring alternatives, educating reviewers about the work product, and measuring work product quality.

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Risk Evaluation

Compare the potential value from a change or solution with the risk level. This helps determine if the risk is acceptable based on its level and the potential benefits.

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Risk Treatment Approaches

Different strategies for dealing with risks.

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Review Types and Techniques

Reviews can be either formal or informal. The techniques used during a review are selected based on the specific objectives of the review.

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Risk Identification

The process of discovering and listing potential threats or problems that could impact the solution or project.

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Risk Condition

The conditions or circumstances that could increase the likelihood of a risk event occurring. It can be a single condition or a combination of conditions.

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Risk Analysis

Understanding and evaluating the potential impact of a risk and its likelihood of happening.

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Risk Control

An action or strategy designed to mitigate the impact of a risk.

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Likelihood of occurrence

The likelihood of a risk event happening. Expressed as a probability (numerical) or in terms of low, medium, or high likelihood.

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Consequences of a risk

The potential negative impact or consequence if a risk event occurs.

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Risk Register

A document that outlines the risks identified during project planning, their potential impact, and mitigation strategies.

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Risk Management

A systematic process to understand, assess, and manage risks associated with a solution or project, aiming to minimize negative impact.

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Ongoing Risk Management

The process of continuously identifying, evaluating, and managing risks throughout the project lifecycle.

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Study Notes

Limitations of SWOT Analysis

  • SWOT analysis results provide a high-level view, often needing more detailed analysis.
  • Unclear context for SWOT analysis can lead to unfocused results, including factors irrelevant to the current situation.

Review Types

  • Reviews evaluate work product content.
  • Different review types tailored to organizational needs exist.
  • Objectives define review purpose.
  • Techniques identify formal/informal review methods.
  • Participants determine who should be involved.

Review Components

  • Reviews encompass work product overview and objectives.
  • Checklists and reference materials guide reviewers.
  • Reviews document findings, verify rework, and use feedback to update the work product.
  • Each review focuses on the work product, not individual skills.
  • Reviews can involve complete products, portions of products, single deliverables, or work in progress.
  • Completed product reviews focus on defect removal or content clarification.
  • Work-in-progress reviews resolve issues or questions.
  • Review participants include the producer and others (peers or stakeholders).
  • Stakeholders validate for completeness and correctness.

Review Objectives

  • Objectives are clearly communicated to all participants before the review.
  • Objectives might include: removing defects, ensuring conformity to specifications, ensuring complete and accurate work products, resolving issues, exploring alternatives, educating reviewers, and measuring work quality.

Review Techniques

  • Reviews can be formal or informal. Specific techniques support review objectives.
  • Inspection is a formal technique involving overview, individual review, defect logging, team consolidation, and follow-up for change verification focusing on defect removal & quality improvement.
  • Formal Walkthrough (Team Review) is a formal technique using individual review and team consolidation, often used for both peer and stakeholder reviews.
  • Informal approaches: single-issue review, informal walkthrough, desk check, pass around, and ad hoc review.

Review Participants

  • Participant roles depend on review objectives, chosen technique, and organizational standards.
  • Supervisors/managers might be reviewers due to expertise, but moderators should carefully avoid influencing team decisions.

SWOT Analysis Strengths

  • Identifying defects early in the life cycle.
  • Improving work product quality and final outcomes.
  • Desk checks/pass-around reviews offer a better work flow rather than interrupting in-progress work.

SWOT Analysis Limitations

  • Time and resources required for rigorous team reviews limit their use to very critical products.
  • Informal reviews may not be as thorough as formal reviews in identifying significant defects.
  • Author validation can be difficult in desk/pass-around reviews, with email discussion sometimes contributing to difficulties in resolving disagreements.

Risk Analysis and Management

  • Identifying areas of uncertainty affecting value.
  • Analyzing and evaluating those risks.
  • Developing and managing strategies to handle risks.
  • Failure to identify and manage risks can negatively affect the value of the solution.
  • Risk analysis considers risk probability and impact.
  • Risk management is continuous; includes stakeholder consultation and monitoring.

Risk Identification

  • Risks are identified via expert judgment, stakeholder input, historical analysis, and past experiences.
  • Risk events can be single occurrences, combinations, or non-occurrences. The occurrence may have a series of consequences.
  • A risk register helps analyze risks and address them.

Risk Analysis

  • Understanding risks and estimating their levels.
  • Considering existing controls in risk analysis.
  • Using probability (likelihood of occurrence) and impact (effect).
  • Risks may be expressed as Low, Medium, or High.
  • Consequences can be described using cost, duration, scope, quality, reputation, or social responsibility.

Risk Evaluation/Assessment

  • Assessing risk levels compared to potential benefits/value to determine acceptability.
  • Overall risk levels are determined by combining individual risk levels.

Risk Treatment

  • Implementing one or more strategies (avoid, transfer, mitigate, accept, increase) to handle identified risks.
  • Selecting an acceptable level of risk.

Risk Response

  • Developing a risk response plan, assigning a risk owner for each risk.
  • Risk avoidance, reducing the risk to nil; or assigning a response plan & owner if risk can't be entirely avoided.

Continuous Risk Identification/Assessment

  • Re-evaluating the residual probability & impact of risks.
  • Performing cost-benefit analysis on responses to check risk reduction level.
  • Re-evaluate risks concerning residual risk.

SWOT Strengths

  • Applicability to long-term, tactical, and operational risks.
  • Useful lessons learned from successful risk responses in previous initiatives.
  • Adaptability to varying risk levels over time.

SWOT Limitations

  • Difficulty in managing unmanageably large numbers of potentially significant risks that may go unidentified.
  • Challenges in assigning precise probability and impact values.

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Description

This quiz explores the limitations of SWOT analysis and delves into the types, objectives, and components of reviews within an organizational context. Assess your understanding of how different reviews can impact work products and the overarching goals they aim to achieve.

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