Using the SWOT analysis is a good way to visually evaluate different projects you are thinking about taking on. It breaks down the strengths (S) that you or your organization is bringing to the table. Then it looks at the weaknesses (W) that are inherent. An important note on the weaknesses, the best you can do is manage around them. For this exercise, you want to list them out so you can best minimize the risk for your next project. From there, you move onto the opportunities (o) or upside. These should represent what it is you are looking to accomplish and gain. Finally the threats (T), what could go wrong? We have a simple one page template that we use internally and with our clients to help crystalize the issues when evaluating a new endeavor.