The histogram, the 80/20 rule, and the Pareto chart are all concepts commonly used in project management and quality control.
A histogram is a graph that shows the distribution of a set of continuous data. It is used to visually represent the frequency of data values within a specific range. This information can be used to identify patterns and make informed decisions.
Histograms show a graphical representation of numerical data
The 80/20 rule, also known as the Pareto principle or the law of the vital few & trivial many, states that 80% of the effects come from 20% of the causes. In project management, this principle is often used to prioritize tasks and allocate resources effectively. By focusing on the 20% of tasks that generate the majority of the results, project managers can maximize their impact and achieve better outcomes.
A Preto Chart rank the causes of problems in a hierarchical format using 80/20 Rule
A Pareto chart is a graphical representation of the 80/20 rule. It is a bar graph that displays the relative frequency or size of problems in descending order of impact. The chart helps project managers identify the most significant problems and allocate resources accordingly.
The vital few: A small number of sources that account for most of the problem.
The trivial many: A large number of remaining sources that individually and collectively account for a relatively small part of the entire problem.
Some examples could be
80% of complaints come from 20% of customers
80% of sales come from 20% of clients
80% of computer crashes come from 20% of IT bugs
Pareto Charts & 80-20 Rule
Examples of the usage of the histogram, 80/20 rule, and Pareto chart
Histogram: Displaying the frequency of task durations in a project to adjust the schedule and allocate resources.
80/20 Rule: Prioritizing tasks with the greatest impact to achieve project goals efficiently.
Pareto Chart: Visualizing the most significant problems in a process to improve quality and efficiency.
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