Lesson notes, exercises, downloads, and recommended reading are below the video. On mobile, the video will rescale when you play it.


Prioritization with the Pareto Principle – the 80-20 Rule

Deciding what is important can be bewildering when you have too much choice. You need to prioritize. And a simple tool is the 80-20 Rule – properly known as the Pareto Principle.

Watching this video is worth 2 Management Courses CPD Points*.
(See below for more details)

This video is part of course module number 1.6.2
Program 1: Managing Yourself
Course 6: Personal Productivity
Section 2: Time Management

Relevant videos in the same section as this video include:
==============================================
– The Power of Habits: Productivity through Effective Working
https://youtu.be/kXmz_E8yUGw
– Organization: How to Enhance Your Productivity by Being Organized
https://youtu.be/2eUYH0z2yiQ
– Overcome Overwhelm: Dealing with the Feeling of Being Overwhelmed
https://youtu.be/Gp21qbsesbc
– Monkey Management: How to Deal with a Monkey on Your Back
https://youtu.be/itwtlfwE6fY
– Goal Setting: The Start of Your Time Management
https://youtu.be/xgQk_Ozu2V4
– Time Management with The OATS Principle
https://youtu.be/B_W9uhKviFU
– To Do List and 7 Other Lists You Should Use Instead
https://youtu.be/ywiCVY6mSgE
– Prioritization: Understand Urgent & Important
https://youtu.be/HX6ByEBuStU

LESSON NOTES
=============
Too many options make deciding difficult. We suffer FOMO – Fear of Missing Out.

A big part of your success won’t come from what you do, but from what you put aside. If you try to do everything, you won’t do anything well.

The key concept is ‘importance’. Do the work that is important. Take a look at the video on Goal-setting https://youtu.be/xgQk_Ozu2V4

Vilfredo Pareto
Italian economist. In 1896, he discovered that 80 percent of Italy’s wealth belonged to 20 percent of its citizens. This 80/20 power law now bears his name.

Examples
Most of the world’s river water flows through a few great rivers, and most of its population lives in the few largest nations.

So, most of the value your work can deliver will come from working on the few most valuable things. I call the difficulty figuring out which things to focus on the ‘Pareto Problem’.

At the start of the Pareto Chart, doing one thing makes a big difference. Near the top right, each new thing you d, makes a marginal improvement at best. You must do a lot to get a little.

A good example of the Pareto Problem is the long list of good ideas on your To Do List.
You may have loads of ideas for projects. They may all be good ideas…
Look for the ones that have the biggest impact.

Pareto and MOSCOW
• Musts
• Shoulds
• Coulds
• Won’ts (would if could but won’t)

RECOMMENDED EXERCISE
======================
1. Look at all the ideas for projects in your notebooks and To Do lists. Apply a MOSCOW analysis to these ideas. (2 MC CPD Point)
2. Delete the Won’t items. Schedule the Must items. Keep the Should items under review. (2 MC CPD Points)
3. You may want to learn more on Barry Schwarz’s idea of The Paradox of Choice, https://geni.us/xRAd1Vs (4 MC CPD Points)

DOWNLOADS
===========
Free Resources
– CPD Tools – https://gum.co/MC-CPD
Paid resources
– Management Courses Onboarding Kit – https://gum.co/MC-ObK ($3)

RECOMMENDED READING
=====================
I’ll be as modest as I can. I’m something of an expert on effective working, personal productivity, & time management, with 4 best-selling books by 3 international publishers:
– The Time Management Pocketbook
https://geni.us/gHa4
– How to Manage Your Time
https://geni.us/Cpvp
– Powerhouse: Turbo Boost Your Effectiveness and Start Making a Serious Impact
https://geni.us/H7GDizc
– The Yes/No Book: How to do less… and achieve more
https://geni.us/yhF90n

And here are my picks from the thousands of other books on personal productivity, effective working, & time management:
– The 7 Habits of Highly Effective People
https://geni.us/Zulp
– The Power of Habit: Why we Do what we Do, and How to Change
https://geni.us/vNtXd4
– Essentialism: The Disciplined Pursuit of Less
https://geni.us/JxTY
– Eat that Frog! 21 Great Ways to Stop Procrastinating
https://geni.us/48Y1LlC

Management Courses Continuing Professional Development (CPD) Points
===========================================================
You can record your Management Courses CPD points on our free, downloadable CPD record log.
Download it here: https://gum.co/MC-CPD

Each video has two levels of MC CPD points. For this video:
– If you simply watched the video, record 2 MC CPD points
– If you also carried out all of the recommended exercises, score a total of 10 MC CPD points
___

Note:
Links to our book recommendations are affiliated through Amazon

#Productivity #TimeManagement #ParetoPrinciple

source

Strategic Time Management: What and How
How to Use the Kanban Method for Time Management
How Does the Chain Method of Time Management Work?
How Does the Autofocus Time Management Method Work?
How Does the Getting Things Done Time Management Method Work?
What is the Pomodoro Technique? Working in Sprints
Eating Frogs: A Solution to Procrastination
How to Handle Interruptions and Distractions
How to Say NO: Noble Objection – the Ultimate in Time Management
How to Handle Overload: When Time Management is Not Enough
How to Clear a Backlog – The 4 Rs Method
Prioritization: Understand Urgent and Important
To Do List and 7 Other Time Management Lists You Should Use Instead
Time Management with The OATS Principle
Goal Setting: The Start of Your Time Management
Activity Log: Logging Your Time and Activities
Email Wrangling: How to Manage Your Email for Greater Productivity
Monkey Management: How to Deal with a Monkey on Your Back
The Flow State… and How Flow Can Help You Work Effectively
Special Time: and How to Use it to Work Effectively
Overcome Overwhelm: Dealing with the Feeling of Being Overwhelmed
Conquer Procrastination: How to Avoid Putting Things Off
Three Types of Procrastination… and Why 2 are Good
Failure of Multitasking: The Multitasking Myth
Milestones and Deadlines for Self-Motivation and Greater Productivity
Wellbeing: What to do to Increase Your Productivity
Use your Energy Cycles for More Effective Working and Greater Productivity
Planning, Preparation, and Follow-up: Effective Working for Better Productivity
Organization: How to Enhance Your Productivity by Being Organized
The Power of Habits: Productivity through Effective Working

Mike Clayton

About Mike Clayton 

Dr Mike Clayton is a (former) Project Manager and now a management educator. Having trained thousands of people at live workshops, seminars, and conferences, he now delivers training mainly via video. He has 14 books with international publishers and runs two successful YouTube channels. He is also the founder of OnlinePMCourses.com

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