Pareto Analysis Step By Step
- Topics:
- Decision making,
- Project Management
- Tags:
- Benefits,
- Tools & Techniques,
- Recruitment & Selection,
- Quality Improvement,
- Project Smart,
- Productivity,
- Pareto Analysis,
- Management,
- Human Resources,
- Workforce Management
- Source:
- Project Smart
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Overview: Pareto Analysis is a statistical technique in decision making that is used for the selection of a limited number of tasks that produce significant overall effect. It uses the Pareto Principle (also know as the 80/20 rule) the idea that by doing 20% of the work you can generate 80% of the benefit of doing the whole job. Or in terms of quality improvement, a large majority of problems (80%) are produced by a few key causes (20%). This is also known as the vital few and the trivial many.
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Format: PDF | Size: 38KB | Date: Jun 2007 | Pages: 2
