By: Ray Myers, Jr., PMP Pareto Analysis is a statistical technique that is used to focus attention to the vital few factors that are responsible for producing most of the problems in a project.  You’ve heard it said that 20% of the causes are responsible for 80% of the effort to resolve the problems. ...
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Known by various names, including The Pareto Principle, The Pareto Law, Pareto’s Law, The 80/20 Rule, The 80:20 Rule, Pareto Theory, The Principle of Least Effort (a term coined by George Zipf in 1949 based on Pareto’s theory), The Principle of Imbalance, The 80-20 Principle, The Rule of the Vital Few (an interpretation developed...
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