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Workload Management - The Pareto Principle

In this video we explore The Pareto Principle, also known as the 80:20 rule and how this can help you manage your workload . . .

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The Pareto Principle, also known as the 80 - 20 rule, states that 80% of results come from 20% of actions. In other words, only a small part of what you do is responsible for a significant part of your results.

Italian economist Vilfredo Pareto came up with this rule when he observed the ratio everywhere, from his garden plants producing fruit to wealth distribution and land ownership. It has given birth to other concepts, most notably the 'vital few' (coined by Dr. Joseph Duran), which refers to those few things that, if done well, deliver the majority of outcomes.

Most people have no idea where their time and energy should be focused in order to get the best results. The Pareto Principle helps you identify which tasks should be prioritised over others for maximum effect.

For example, if you have a list of tasks to complete for a specific project, you can prioritise them according to their importance. Some tasks are much more important than others, and completing those first will allow you to get better results with less effort. Alternatively, some tasks may not need to be completed at all if they don't affect the overall end result; thus, they can be eliminated entirely from your list of priorities.

20% of an 8-hour day is 96 minutes. What do you really need to do that can be done within this time? Set aside low-level work and focus on those.

Which parts of your workload deliver the biggest results for your, your colleagues, and your students?

What can you remove or do less of?

When harnessing the power of the Pareto Principle, it is essential to take a step back from time to time. Otherwise, you might fail to remember small tasks that can easily get forgotten. In addition, it's not about doing less work but rather concentrating your energy on key activities in order to acquire higher results. To make an immense impact, make sure you're investing all your effort into those 20% of actions!

Overall, the Pareto Principle can greatly improve both your effectiveness and efficiency — allowing you to maximise your personal effectiveness by focusing on things with the greatest amount of impact for a fraction of the time.

 

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