Event Summary
This course will discuss The Pareto Principle, commonly known as the 80/20 rule, which is a concept that suggests 80% of outcomes result from 20% of all causes for any given event. There will be discussion on how in project management, this principle can be a powerful tool for maximizing efficiency and effectiveness, allowing teams to focus on the tasks that yield the most significant impact. Further information on how the application of this principle also comes with considerations (risks) regarding the pursuit of perfection in the final stages of a project.
Participants will receive 1 Professional Development Hour (PDH) upon completion.
Learning Objectives
- Introduction to the Pareto Principle and the 80/20 Rule
- Conducting Pareto Analysis
- Pareto Charts and Interpretations
- Application and Examples
Who Should Attend
- Decision-makers and professionals interested in effective problem-solving and data analysis techniques.
- Lean practitioners, quality assurance staff, and process improvement experts.
- Mid-to-senior level managers and team leaders aiming to prioritize resources and address key issues efficiently.
- Individuals seeking to enhance their analytical skills in various business contexts.
Meet Your Instructor
Peter Assad
Founder & Principal Consultant
Elora Consulting
Peter Assad is the Founder and Principal Consultant of Elora Consulting, a firm specializing in operational excellence and business process improvement. With 17 years of cross-industry experience spanning financial services, healthcare, oil and gas, and manufacturing sectors, he has established himself as a trusted leader in driving transformative change.
Holding an MBA, a Lean Six Sigma Black Belt Certification, and a Certified Change Management Practitioner, Peter possesses a unique blend of expertise, excelling in leveraging services such as business process management (BPM), business process improvement (BPI), and operational review to not only streamline operations but also significantly enhance performance.
Peter’s notable achievements include delivering $650,000 in cost savings and $100,000 in cost avoidance in banking, achieving $3.1 million in cost avoidance and generating $2 million in revenue in healthcare, along with reducing patient wait times by 50%, and MRI appointment delays by 85%. In the oil and gas sector, his initiatives have automated processes, reducing process times by 70%, and in manufacturing, he has cut process times by 62%.
Beyond his professional pursuits, Peter is passionate about reading, travel, and hiking with his wife. He enjoys engaging in community involvement and volunteering in various capacities. Peter’s contributions were recognized with the Excellence in Consulting Award by the Riata Center for Entrepreneurship at Oklahoma State University’s Spears School of Business.
