2080 concepts
From 2080 Development community.
Historically, the Italian economist Pareto noticed that 80% of Italy's wealth was owned by 20% of the population. Hence the business thinker Joseph M. Juran, who came up with the 2080 principle alternatively named it the Pareto Principle. It states that, in most cases, 80% of the results come from 20% of the causes (or work, ...) While this has a 'rule of thumb' feeling to it, it emerged that this distribution has a good shot at explaining a lot of distributions found in different fields. While the most common explanation is that 20% of the effort delivers 80% of the result, it goes on to explain 80% of your profit comes from 20% of your clients, yet similarly 80% of the problems stem from 20% of your clients and so on.
This principle has a very practical application, that also shows its limitations: While you can get 80% of the results with 20% of the effort, you need to do the full 100% of the work to get a complete result. Yet the understanding of the rule allows both for quick results (80% after just 20% of the time & budget) and correct timing and budgetting (it looks like 80% is done when only 20% is, creating a false feeling of acomplishment).
The 2080 approach draws on this to build a project management process in five steps, each representing roughly 20% of the work to be done. It has applications in different fields, where the most common are documented on this site:
