The 80/20 rule in project & resource planning
The 80/20 rule, also known as the “Pareto principle”, asserts that 80% of all outcomes are a result of 20% of the effort. Everyone knows about the example.
The 80/20 rule, also known as the “Pareto principle”, asserts that 80% of all outcomes are a result of 20% of the effort. Everyone knows about the example.
Service providers who carry out projects for their customers generally want two things: on the one hand, a fast and satisfactory result for their customers, and profitability on the other hand.
Many businesses only see afterward what their project margin is. As a result, sometimes they come to an icky conclusion; the project wasn’t profitable. Recognizable?