Are There More?
Episode #8 of the course “How to make better decisions with the Matrix” by Kari Beaulieu
1. SWOT
A SWOT analysis is a “structured planning method that evaluates four elements of a project or business venture. It’s used to evaluate the Strengths, Weaknesses, Opportunities, and Threats that are presented as each new project or venture is taken on. Check out the image below to see a SWOT analysis in action.
Keep in mind: Strengths and weaknesses are internal factors that affect your plan, while opportunities and threats are external factors that can either help or hurt your initiative.
Popular examples of situations in which SWOT is used include starting a new business, developing a new product, or considering a potential marketing scheme.
2. Retroactive Project Analysis
A retroactive project analysis can be used in hindsight to determine four pieces of critical information regarding a finished project. This analysis tells us what was correctly predicted and what was missed during project planning, as well as what went right and wrong in the execution stage.
The four quadrants of a retroactive project analysis are:
• Planned and Successful: Events that were correctly predicted in the planning phase and also effectively executed when their time was due
• Unplanned and Successful: All the elements of the project that were not foreseen during the planning stage but were handled satisfactorily by the execution team
• Planned and Failed: Things that were planned for adequately but did not happen as expected. This often denotes a mistake in planning
• Unplanned and Failed: This final quadrant contains items that were not foreseen and were also not successfully handled.
It is necessary to derive concrete lessons and draw actionable conclusions from your retroactive project analysis in order to guide your team to improve their processes.
In Conclusion
Listen, I’m not saying you have to use the Eisenhower Method to find your next action item or prioritize your to-do list. What I am saying is that even if Eisenhower isn’t the right fit for you, there are other matrices that can help you make better choices.
Choose two criteria on which you want to evaluate your tasks and draw some boxes. Simple as that!
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