19. What Is Pareto Principle?
Pareto Principle is also known as 80/20 principle. It is a management tool to track problem tracking effectively. This principle says that 20% of the problems lead to 80% of other problems. Hence, in order to concentrating on solving 80% of the problems rather, one can concentrate to solve 20 % of the problems which saves lot of troubles. The analysis and concentration is done for only 20% of the vital problems. In a project the vital problems are the first 10% and the last 10% .
