What is Pareto Analysis in Project Management?
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What is Pareto Analysis in Project Management?
Pareto Analysis is a decision-making technique used to identify the most important factors in a project. It’s based on the 80/20 rule, which suggests that 80% of effects come from 20% of the causes.
How can I apply it to my project?
You can apply it by identifying the key issues affecting your project. List all problems, then categorize them to find which ones have the most significant impact.
Can you give me an example?
Sure! If you're managing a software project, you might find that 80% of bugs come from 20% of the code. By focusing on that critical 20%, you can improve overall quality.
What tools can help with this analysis?
Tools like Excel, Minitab, or specialized project management software can help you visualize and analyze data for Pareto Analysis.
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