Before deciding to hire an external vendor to accelerate the delivery plan, it's essential to assess the potential internal and external factors that could influence this decision. Conducting a SWOT analysis allows the project team to systematically evaluate:
Strengths: Internal capabilities that could support the decision.
Weaknesses: Internal limitations or challenges.
Opportunities: External factors the project could capitalize on.
Threats: External factors that could pose risks.
This comprehensive assessment provides a balanced perspective, enabling informed decision-making regarding the engagement of an external vendor.
PMI Risk Management Study Guide References:
The PMI-RMP Exam Content Outline lists SWOT analysis as a technique for assessing project risk complexity and identifying potential threats and opportunities, facilitating informed decision-making in project risk management.