The Pareto effect, also known as the Pareto principle, 80 to 20 rule, states that 80% of the results are achieved in 20% of the total time of a project. The remaining 20% of the results until final completion will do most of the work and takes most of the time.
Nowadays, the Pareto principle is often used as an aid to project and time management, to identify important work packages and to make rapid progress with relatively good results (100% effort is required to achieve 100% results). It also helps to identify work that can be postponed or left out due to a lack of efficiency. Critics complain about the transfer to project management that the principle tempts you to no longer complete tasks completely, but that at the same time there are tasks or projects for which 80% completion is not sufficient.
The bottleneck is getting tighter the more projects have to be 100% completed.
Vilfredo Pareto laid the foundation for the Pareto effect in 1906 when he found out that around 20% of the population in Italy owned around 80% of the land.
Don’t miss the previous parts from this series:
Part I (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-1)
Part II (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-2)
Part III (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-3)
Part IV (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-4)
Part V (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-5)
Part VI (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-6)
Part VII (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-7)
Part VIII (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-8)
Part IX (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-9)
Part X (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-10)
Part XI (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-11)
Part XII (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-12)
Part XIII (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-13)
Part XIV (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-14)
Part XV (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-15)
Part XVI (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-16)
Part XVII (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-17)
Part XVIII (https://mobacommunity.com/blogs/entry/The-MOBA-Project-Management-Part-18)