The Pareto Principle

80% of this video will be watched by 20% of you

In 1906, Italian economist Vilfredo Pareto was studying the unequal distribution of wealth in his country. He discovered that approximately 80% of the land in Italy was owned by only 20% of the population. After his observation, many other professionals noticed the same phenomenon in their own areas of expertise.

For example: 80% of sales comes from 20% of clients
and 80% of complaints come from 20% of customers.

This 80/20 rule has become known as the Pareto Principle.

The value of the Pareto Principle for a project manager is that it reminds you that 80% of your work should focus on the 20% of things that really matter on the project.

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