The Pareto Principle is a concept we often find useful. In 1906, Italian economist Vilfredo Pareto analyzed property in Italy and discovered that 80% of the land was owned by 20% of the population.

In mining and heavy industries, maximising asset utilisation requires more than just tracking downtime – it demands a deeper ...

The Pareto Principle was born. Juran went on to apply that observation as a pioneer of Management Theory with studies showing that 80 percent of problems in business were due to 20 percent of ...