📚 Project Vocabulary: Pareto Principle 📊

📚 Project Vocabulary: Pareto Principle 📊

Definition: Also known as the 80/20 rule, it states that 80% of effects come from 20% of the causes. In project management, it suggests that 80% of the project’s benefit can be achieved by completing 20% of the work.

Example: In a software development project, the team might use the Pareto Principle to identify and prioritize the 20% of features that will deliver 80% of the value to users.

The Pareto Principle is like a magic wand, helping us focus on the most impactful parts of the project. 🪄✨

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