When a project management team is working on a project’s many different components and aspects, there are a number of tools that can be utilized in order to make the best and most efficient use of all of the information and data that is being gathered across the board. Many of these tools are in the form of charts, graphs, and other tables that compile all of the information in an easy to read graphical representation. One project management tool that is of particular use and importance is the pareto chart. The Pareto chart is, quite simply, a histogram. Its basic layout is quite common and quite typically done. It is ordered by occurrences and the frequency in which they take place. The general point of the pareto chart is to provide the project team and the project team leader with a graphical illustration of he various occurrences along with a demonstration of exactly how many results were ultimately generated by each and every identifying cause.
This term is defined in the 3rd and the 4th edition of the PMBOK.
No comment yet, add your voice below!