Tag Archives: pareto

Pareto Chart Template

The purpose of the Pareto Chart is to address the most important among a set of factors, the highest occurring type of defect, the most frequent reasons for customer complaints, and so on. It combines an ordered bar chart and a line chart. The items on the left side of the chart are called the “vital few” while the rest are considered the “trivial many”.

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Pareto Analysis

Pareto Analysis

There are many situations where you are asked to decide which problems or causes of a problem should be tackled first. The Pareto Principle, which is also referred to as the 80-20 rule, states that roughly 80 percent of the problems or effects come from 20 percent of the causes. It describes a statistical phenomenon that a small number of high values contribute more to the total than a high number of low values. The focus of the Pareto Analysis is to identify the “vital few” from the “trivial many” and make it possible to attack the 80 percent of the problems to obtain the maximum benefits.

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Project Selection Template

This Project Selection Template is designed to provide management with information to support the project selection process. It allows to identify the most appropriate improvement projects and prioritize them based on their potential impact to the business. This ensures business priorities are taken into account, and drives management commitment by giving them the opportunity to contribute to the continuous improvement effort.

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