The Pareto principle posits that 80% of effects arise from 20% of the causes. By successfully identifying these critical few causes, project managers and owners can concentrate their efforts where they'll have the most substantial impact.
Let's illustrate this with a practical example. On a construction infrastructure project, you're experiencing project delays. Employing Pareto Analysis, you discover that 80% of construction delays root from just 20% of activities, primarily related to equipment breakdowns. Concentrating efforts on enhancing equipment maintenance could notably reduce these delays, ensuring a more on-schedule and cost-efficient project.
Our software integrates Pareto Analysis by enabling:
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