THE BIGGEST QUESTION facing the United States women's national team as it heads into 2015 is also, arguably, the only one that matters: Is this team good enough to win the World Cup?

Based on its recent past, the answer seems like a no-brainer: Of course. After all, the team has lifted the World Cup twice and it won gold in the last three Olympic games.

The team's performances over the past year, however, have raised plenty of doubts. First, there was the disastrous seventh-place finish in the Algarve Cup and the subsequent dismissal of head coach Tom Sermanni. Then, in the fall, under new head coach Jill Ellis, the team muddled through World Cup qualifying in a series of performances that at least one player described as "disjointed."

And last month the team lost its No. 1 world ranking and finished second in the International Tournament of Brasilia with a 1-1-2 record.

Now back in camp preparing for friendlies against France and England, the U.S. women's national team realizes it has work to do. Speaking to American Soccer Now, midfield stalwart Carli Lloyd acknowledged the challenges the team faced last month in Brazil.

"It was obviously not our best," Lloyd said. "The results showed that. For our standards, it was definitely below average. But, I think we can learn a lot. We had a six-week break, everybody was at different [stages] of fitness.

"We were tested. We [hadn't] been tested since the Algarve Cup last year. I think we took a lot from it. It's those times that make you a better player. We're not worried, but it really put things in perspective. We really have to hone in. We have to be better."

Lloyd also thinks that the team losing its No. 1 ranking—a position it had held since 2007—can serve as a wake-up call.

"Dropping to No. 2 in the world is good for us. There are no guarantees going into a World Cup," Lloyd said. "We've been the No. 1 team for a really long time, but we haven't won a World Cup [since 1999]. I don't think any of us sweat it. It wasn't something we talked about.

"Personally, I'm happy about it. I'd rather go in not as the No. 1. It's going to make us dig deeper and work that much harder."

One of the biggest transitions the team has faced over the past year has been the implementation of a new formation, moving away from its traditional 4-4-2 into a new-look 4-3-3. Lloyd says that the transition is still a work in progress.

"We're playing around with it," she said, later adding, "We're still experimenting with personnel and how we want to play."

While Ellis has started Lloyd and her midfield partner Lauren Holiday in all 16 matches since taking charge of the team in April, the team has still not settled on the third midfielder. Ellis has tried using Abby Wambach and Megan Rapinoe in that spot, also giving the occasional game to young upstart Morgan Brian.

Lloyd says each of the three players gives the U.S. different options. "It's just different," Lloyd said. "Different games require different personnel. When Abby's in, it presents more of a target game, whipping crosses into the box. When Rapinoe's in, she likes to combine and find those gaps and seams."

And with Brian as the team's third midfielder, Lloyd has more license to get forward: "When there's a more defensive-minded person in the middle," she pointed out, "it does give me the comfort to go forward and know someone is in behind."

Despite all the focus on the No. 10 role and the team's offensive production, Lloyd thinks the team's greatest challenge this summer will be its defense.

"Defensively, we have to be on the same page, we have to be solid, we have to be a unit. At the end of the day, defense wins championships. I know it's cliched, but we have to be a strong [defensive] unit."

Many ardent supporters, especially those critical of the team's new formation, thought they saw the team switch back to a 4-4-2 in the final of the International Tournament of Brasilia, but Lloyd says that wasn't the case.

"It was the actually the same [4-3-3] formation. [Holiday] slid up into the No. 10 role; Abby was the higher one."

According to Lloyd, the confusion among fans likely came from the team's formational transition during different phases of play. Because Brazil dominated possession for long stretches, it only looked like a 4-4-2.

"The way we defend is a traditional 4-4-2, in two blocks of four," Lloyd added.

For Lloyd, whose impressive international resume includes nearly 200 caps, more than 60 international goals, and two Olympic gold medals, a World Cup title remains the final goal. But despite the fact that she'll turn 33 this summer, Lloyd won't concede this is her last chance to accomplish the feat.

"I can't say for now [if this is my last chance]. I know personally I'm the fittest and sharpest I've ever been. The way I train, the way I take care of my body, has enabled me to do that. I feel really good. I'm not looking too far ahead. I just want to focus on the now, but winning a World Cup before my career is over is definitely the biggest thing I'd like to accomplish."

And despite the U.S.'s challenging 2014, Lloyd still thinks the team will be ready when it steps onto the pitch against Australia in five months.

"Right now, I think we have some work to do. But, I think we're going to peak at the right moment. The thing about this team, when we're in [tournament] mode, everybody takes it up a gear or two. Everybody will be ready—Abby, Rampone, Hope, myself.

"We're going to be ready."

John D. Halloran is an American Soccer Now columnist. Follow him on Twitter.