Pareto charts are a tool and technique of the Perform Quality Control process.
They rank-order the most important factors such as delays, costs, or defects by their frequency over time and are displayed as histograms.
According to Pareto, the 80/20 rule as it applies to quality says that a small number of causes (20 percent) create the majority of the problems (80 percent).
His theory is that you get the most benefit if you spend the majority of your time fixing the most important problems.
-Posted by Sundar
Refer Exam Tips 3 – Key terms for PMP Exam for more key terms
