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What Is Pareto Principle? |
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Answer» 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% . 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% . |
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