By Dr Gunjan Y Trivedi Many of you wrote to me inquiring about how to use Pareto (80/20) analysis in your business.   I will share some methodologies to help you apply a similar approach to your work. Before we discuss an example, let’s be clear about the objectives.  Remembering the bird from Dronacharya’s test during the training of Pandavas, we should be clear about the two crucial steps.  First, what’s our objective? Once we are clear about the objective, the second step is to achieve the objective.  Dronacharya spent much time probing whether each budding prince knew the

by Dr Gunjan Y Trivedi. As printed in Divya Bhaskar (Gujarati) newspaper Examples of Pareto (80/20 rule) in our daily life Over the past month, I've discussed the Pareto Principle, which states that 80% of the outcomes stem from 20% of the efforts or focus areas. Last week, we delved into applying the Pareto Principle to attain work-life balance using the SEE Life Priority Matrix. We pinpointed two criteria, Importance and Satisfaction, to categorise key areas of life like physical and emotional health, career, finances, relationships, social life, and hobbies. By employing these prioritisation principles, we recognised how

The life priority matrix (also known as the SEE Life Priority Matrix) is a technique we use in Module 1 (The Journey Within, available in Hindi and English) to help individuals prioritise work-life balance and therefore improve their quality of life.  Unfortunately, the translation in English is not available. The SEE Life Priority matrix is covered in our module 1 training

સંચાલન અને પ્રોજેક્ટ મેનેજમેન્ટમાં પેરેટો (80/20 નિયમ) સિદ્ધાંતનો અસરકારક ઉપયોગ  (Not available in English) ડૉ. ગુંજન વાય. ત્રિવેદી ગત સપ્તાહે, રોકાણના સંચાલનમાં પેરેટો સિદ્ધાંત (80/20 નિયમ)ની ભૂમિકા અંગે ચર્ચા કરી હતી. આ સપ્તાહે, આપણે વ્યવસાયના બે ક્ષેત્ર કવર કરીશું: પ્રોજેક્ટનું સંચાલન અને ચાલુ કામગીરી. પ્રોજેક્ટ મેનેજર્સ હંમેશા ચાર પરિમાણો વચ્ચે સંતુલન સાધવાનો પ્રયાસ કરે છે. 1)અવકાશ (scope), 2) ગુણવત્તા, 3) ખર્ચ, 4) શેડ્યુલ. પ્રોજેક્ટ્સ અલગ અલગ હોય શકે છે ત્યારે આ ચાર પરિમાણો પ્રોજેક્ટને અસરકારક બનાવવા માટે એકબીજા સાથે કામ કરે છે. ઉદાહરણ તરીકે પ્રયોજક ઝડપી ગતિએ પ્રોજેક્ટ પૂરો કરવા માંગે છે. એ કેસમાં, ઝડપી પરિણામ હાંસલ કરવા માટે પ્રોજેક્ટ મેનેજર

Applying Pareto for financial planning Last week, we discussed the role of the Pareto Principle (80/20 rule), which suggests that around 80% of the outcomes or effects come from a relatively small portion (around 20% of inputs). Today, we review how the approach is evident in equity investing through a quick study of the top 10 large-cap mutual funds. First, let's use Pareto to establish some basic guidelines.  Investing 80% of your money into equity is more prudent during the early phase of your earning career. As you approach retirement, the numbers can be reversed, i.e. 80% of your funds