THE SYDNEY Swans had an enormous chance to break their long drought against Collingwood in round 20 this year, but co-captain Jarrad McVeigh admits they wilted under the fourth-quarter pressure.

Needless to say, McVeigh's side knows it can't afford a similar slip-up in Friday night's preliminary final.

The Swans led by a point leading into the final term at ANZ Stadium six weeks ago, but broke down structurally at times and failed to take their opportunities when the game was on the line.

Collingwood kicked 3.2 to 1.5 in the fourth quarter, with late goals from Travis Cloke and Dayne Beams giving the Pies an eight-point victory to extend their winning streak over the Swans to 11 games.

McVeigh knows his side needs to stick to the task from start to finish if they are to prevail on Friday night.

"We have a lot to improve on," McVeigh told reporters on Wednesday at the Swans' final training session before the match.

"At the end of the [round 20] game there were some structural things we didn't get right under the heat of the moment.

"We can definitely improve and they've improved as well, so it's going to be a tight game I'd imagine."

McVeigh has no doubt where the Swans were beaten in that game, pointing to Collingwood's impressive midfield unit.

With Dane Swan missing through suspension, Beams and Scott Pendlebury ran riot at ANZ Stadium to lead their side to victory.

"We probably got smacked in the midfield in that game," McVeigh said.

"That was one area we weren't too happy with and we'll have to rectify that this week.

"Their midfield has been playing really well with Beams and Swan and Pendlebury, and [Dale] Thomas is back in form.

"That's where their guns are, and we'll have to quell their influence and then hurt them the other way.

"We were too far off those guys [last time] and allowed them too much ball.

"Their good players hurt you, and also our ball movement into our forward line is something we've been working on all year."

One area the Pies do have an edge is finals experience, but McVeigh is confident the Swans' youngsters will respond this time around when the game is on the line.

"They've been fine," he said.

"They've played in finals the last couple of years and got that experience, but obviously this is the biggest game most of us will play in besides a Grand Final.
 
"[But] they're pretty level-headed guys.
 
"They know what it's about, they've watched the games and they know what's required. Our young boys are hard and tough players and they will be ready for it."

McVeigh missed out on selection for the 2005 premiership side before playing every game the following year, including the preliminary final victory over Fremantle and the one-point Grand Final defeat to West Coast.

A club best and fairest winner in 2008, McVeigh knows how rare preliminary finals can be and the carrot that is on offer if they can win.

"We've spoken about that. It's a massive opportunity," he said.

"We've got a chance to get into a Grand Final. You don't get in these positions that often.

"I played in one in 2006 and haven't been there since, and you don't want to waste those opportunities."

James Dampney is a reporter for sydneyswans.com.au. Follow him on Twitter: @AFL_JD