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Pareto Chart-MGMT 301

Free Prezi template for creating a workflow related presentation. Describe a process and all the necessary steps one has to complete. Download the file from Prezibase.com or save a copy right here
by

Emily Walker

on 8 November 2014

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Transcript of Pareto Chart-MGMT 301

Pareto Chart
Pareto Chart
A Decision-making tool
Presentation by:
Diantha Beckham, Kaitlyn Bishop,
Gregory Bowman, Nick Cherbero, Heather Estep, Daniel May, Miranda Mednicoff, Emily Walker
References
Thanks for listening!
Questions?
Pareto Chart Example
How It is Used

Often Used for:
Quality Control issues

Customer Review

Document Complaints

Cost Analysis

Construction Safety

What is a Pareto Chart?
Establishes importance of differences within groups of data.
Left-side vertical axis: frequency
Right-side vertical axis: cumulative percentage
Horizontal axis: group names
Lessons to Learn
Largest issues that a business may face
Where efforts should be focused to make improvements
Exercise: Work Smarter, Not Harder!
20% effort > 80% product
Simon, K. (2010). Pareto Chart. Retrieved from http://www.isixsigma.com/tools-templates/pareto/pareto-chart-bar-chart-histogram-and-pareto-principle-8020-rule/.
Pareto Chart History
Named after the Italian economist Vilfredo Federico Damaso Pareto.
Made numerous contributions to economics - Helped develop the field of Microeconomics.
Pareto Efficiency, Pareto Distribution, Pareto Principle, Pareto Chart.
William Edwards Deming
Known most for his work in the quality recovery work in Japan after WWII
Used Pareto Chart and other Pareto principles to help out Japan after WWII
With the Pareto Chart and Pareto's 20/80
model Deming encouraged the Japanese
for quality improvement that would
reduce costs in the long run.
What we will cover
History
What it is
How it is used
Example
Exercise
Conclusion
Vilfredo Federico Damaso Pareto
Establishes importance of differences within groups of data.
Used to help Japan after WWII.
Mostly used in quality control to find the most reoccurring defects.
Shows where to focus efforts to make improvements.
Study groups?
Quinn-Curtis, Inc.
Pareto Diagram
. Other SCP Chart Diagrams. Retrieved from: http://www.quinn-curtis.com/Pareto3.JPG.
"Pareto Chart." CQE Academy. N.p., n.d. Web. 21 Oct. 2014. <http://www.cqeacademy.com/cqe-body-of-knowledge/continuous-improvement/quality-control-tools/pareto-chart/>.
Full transcript