PARETO TOP N

What Is It

Pareto top N method selects the most important risks of a project based on risk information. It involves selecting the top N risks that will be prioritized based on the criteria defined for the project as well as the attributes of impact, probability, and timeframe. The result is an ordered Pareto, or vital few, list of risks.

When To Use

Use this method

• To sort through a large amount of risks and determine which are most important.
• To separate out which risks should be dealt with first (the vital few risks) when allocating resources.
• After using the Binary (or Tri-Level) Attribute Evaluation.

Benefits

The method

• Provides a way to determine the most important risks from a large number.
• Is easy to apply.