20% work generates 80% of the advantage
Here is a simplified procedure to conduct a Pareto Analysis:
Goal
- Identify which 20% provides greatest advantage
To Conduct Pareto Analysis
- List possible options
- Group items, if possible
- Score the items
- Sort items—highest score first
- Address highest scored items first
Analysis
- Score indicates most benefit
- Highest-score items indicate greatest return
- Lowest-score items may cost more than potential return
Originally posted at PMServicesNW.com