The 80/20 Principle

The Eighty20 Rule

 

Eighty20 Risk Systems got its name and the inspiration of its ethos from the 80/20 principle.

In 1906, Italian economist Vilfredo Pareto created a mathematical formula to describe the unequal distribution of wealth in his country, observing that twenty percent of the people owned eighty percent of the wealth. 

 

Where It Came From

 

After Pareto made his observation and created his formula, many others observed similar phenomena in their own areas of expertise. Quality Management pioneer, Dr. Joseph Juran, working in the US in the 1930s and 40s recognised a universal principle he called the "vital few and trivial many" .

 

As a result, Dr Juran's observation of the "vital few and trivial many", the principle that 20 per cent of something always is responsible for 80 per cent of the results, the 80/20 Rule.

 

What It Means

 

Project Managers know that 20 percent of the work (the first 10 percent and the last 10 percent) consume 80 percent of your time and resources. You can apply the 80/20 Rule to almost anything, from risk management to the physical world.

 

How It Can Help You

 

Of the things you do during your day, only 20 percent really matter. Those 20 percent produce 80 per cent of your results. Identify and focus on those things. 

 

The 80/20 rule is used in occupational health and safety to underline the importance of hazard prioritisation. Assuming 20% of the hazards will account for 80% of the injuries and by categorising hazards, safety professionals can target that 20 % of the hazards that cause 80% of the injuries or accidents.

 

The Eighty20 Rule, should serve as a daily reminder to focus 80 percent of your time and energy on the 20 percent of your work that is really important. 

 

Don't just "work smart", work smart on the right things.

The E20 io safety management system 

All of your risk solutions/activities in one place. From adding incidents & actions, completing new risk assessments to detailed Business Intelligence Dashboard analysis. We have removed the need, where it adds zero value, to login to complete and add vital information to your safety efforts. Doing so means you have an unlimited number of potential users giving invaluable effort and insight as efficiently and effectively as possible.

 

E20 io from Eighty20 Risk Systems, is a powerful web-based incident reporting, action management, investigation, analysis and reporting platform. With the ability to add other safety functions, such as Risk Assessments, Audits and Records, E20 provides a complete, low-cost solution to business risk challenges.

 

It can be accessed on your desktop or mobile device to suits your needs. Incidents and assessments can be added by anyone in your business - wherever they have happened and wherever the reporter is. 

 

No need for a second, separate app or additional user licenses. Even if you need the platform on your web site, we can help make this happen. E20 is designed to work for you not against you! 

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