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1.4.1.4. Pareto analysis revisited

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In order to compare various scenarios, the following keywords can be used: expected return, chances of success, ease of implementation, risks, necessary means, time factor, prioritization. Each keyword is assigned an “importance”, a “weight” ranging from 1 (low) to 5 (high). Common sense, professionalism and the use of the collective intelligence of the company generally make it possible to eliminate irrelevant projects. Priority will be given to a project that has a good chance of succeeding quickly with limited resources, as opposed to projects that appear fabulous but require a lot of resources and time.

Actions on which the survival of the company may depend are called strategic; these are, for example, very large investments and major acquisitions.

Process Industries 1

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