Vilfredo Pareto would not have dreamed that his observations related to the distribution of wealth in 19th century Italy were slated to become a project management and quality control tool. Do you know the basic tenets and their applications for modern day project management?
Pareto Principle 101
The 80:20 ratio sounds so simple – until you dig just a bit deeper. Its genius lies in its applicability to a vast number of project management situations. Even beyond the realm of this professional use, there are ample opportunities to make good use of the tenets embraced here. Test your knowledge and understanding about the ins and outs of Pareto’s wisdom.
Pareto Principle: The Quiz