Project Smart ~ Exploring trends and developments in project management today
The value of the Pareto Principle for a project manager is that it reminds you to focus on the 20% of things that really matter on a project.
Not recordedPareto Analysis or the 80/20 rule enables you to see what 20 percent of cases are causing 80 percent of the problems on a project.
Not recordedPareto charts can be used to identify problems to work on. They can help you produce greater efficiency, conserve materials, reduce costs or increase safety.
Not recordedNow called the 80/20 Rule or the Pareto Principle, its application in the IT world is essential to project success.
Not recordedThe Pareto principle has become deeply rooted in our industrial literature. It is a shorthand name for the phenomenon that in any population which contributes to a common effect, a relative few of the contributors account for the bulk of the effect.
80/20 Thinking is inherently optimistic because, paradoxically, it reveals a state of affairs that is seriously below what it should be. ~ Richard Koch
We tend to think of innovation as difficult, but with the creative use of The 80/20 Principle innovation can be both easy and fun! ~ Richard Koch
Every person I have known who has taken The 80/20 Principle, seriously has emerged with useful, in some cases life-changing insights. ~ Richard Koch
The 80/20 principle – that 80 percent of result flow from just 20 per cent of the causes – is the one true principle of highly effective people. ~ Richard Koch
Latest Comments
Aahana Laghari commented on…
Project Planning a Step by Step Guide
- Thu 29 November 9:47am
Prakash commented on…
10 Golden Rules of Project Risk Management
- Mon 26 November 10:52pm
Lalit commented on…
10 Golden Rules of Project Risk Management
- Fri 23 November 7:28am