What is the Pareto Principle - The 80 20 Rule? PM in Under 5

The Pareto Principle, or the 80-20 Rule. It articulates a fundamental aspect of nature, which also applies to projects. So, what is the Pareto Principle?

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[MohamedAhmed-ghcs]

''Prioritization:
_Find a vital few problems and resolve them ;
-Find a vital few sources of risk and mitigate those;
_Find your vital stakeholders and satisfy them.
*The law of the vital few tell us:
-If we prioritize ruthlessly, we can find a small number of points of control and use those points of control, to Gain Significant leverage over our Project.''
thank you very much for the practical explanation.

[PacificBruva]

Mike Clayton you are the best. I consider you the Sir David Attenborough of the MBA field and PRoject manangement field. May God to continue to give you the strength to continue sharing this knowledge. Best regards from Hargeisa, Republic of Somaliland.

[PrincessMindorena]

Very thoughtful and succinct. Thumbs up b to this presentation.

[tiddybagel]

I work in the semiconductor industry and see this with contributions made by individuals.

[goratamokwena]

Wow that was truly helpful. Thank you for the information.

[matthewlebel]

Great video, connected some concepts for me and helped with an assignment. Thanks!

[innertubez]

Thanks! I wonder if this can help with personal finance, too. Such as, 80% of expenses come from 20% of "causes" (that is, things people spend money on).

[realtalk]

Check your subscription list. Notice that you mostly watch 20% of those you've subscribed to 80% of the time.

[dion]

This principle applies to intelligence, desire to work at a very high level, physical strength etc.

[Johan-gggq]

Thank you for your explanation. I am looking for examples from nature which would support your remark that the 80-20-rule is a nature's law. But I cannot find them, perhaps you can name a series within the life of plants and animals? Thanks!

[kerschwynnvalentyn]

the oom made me very confused with the story telling 🤦🏻‍♂️...I taught he would get straight to the point of wat it is but so he didn't 😏.

[treebeardtheent]

👎 have to give thumbs down for unethical censorship of comments.

If it was applied to trolls or comments constituting ad hominim attacks or such, then the censorship would be justified (maybe debateable), but censoring well reasoned applications of the Pareto principle using well articulated comments is simply unethical (at best).

[Grumbledookvid]

satisfying stakeholders is for cowards

[raukouy]

for the love of god! learn to pronounce Pareto