What is the Pareto principle (80-20 rule), and what it eats?

This simple rule helps to choose the most effective solution. That decision, which will have the greatest effect with the least expenditure of effort. This rule is very convenient to use in a situation where you need to choose from a variety of options.
It is based on the Pareto principle, which states: "If all the items placed in the order of their values, then 80% of the value falls on the objects that make up 20% of the total, while 20% of the value falls on the objects sostavlyuschie 80% of the total ".
How to use?
1) Make a list. Write down in a column all of your alternatives. If you get a lot of points, the similarities can be divided into groups.

2) Evaluate alternatives. For each item (or group) your rating. Depending on the nature of alternatives estimates may be different. For example, if you make a decision related to finance, in an assessment of the best use of profits. If you choose from the list of possible cases, the ones you are going to do this week, it can be used to assess the significance of these cases (cases A, B, C).

3) Select the priority 20%. The alternative, which received the highest score will bring you the greatest benefit. The remaining alternative is to drop - they could cost you more effort than benefit from their implementation.