May 2007
Beginner
64 pages
1h 12m
English
Content preview from Time Management: 24 Techniques to Make Each Minute Count at Work
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Do it all now
Prioritize with Pareto
A fifth option for prioritizing is with the Pareto principle.
In 1906 an Italian economist, Vilfredo Pareto, observed that 20 percent of Italians owned 80 percent of that nation’s wealth. Over time people generalized this 80/20 ratio to other situations. In the 1930s and 1940s quality management pioneer Joseph M. Juran recognized a universal principle he called the “vital few and trivial many.” Eventually, the two principles together have formed a rule of thumb: A small number of items in a group (the “vital ...
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