I wanted to say as an engineer I use this principle every day and teach it to young engineers - but after reading your clear explanation I realized: I never really understood it correctly. It is not just a case of focusing your efforts on 80% of the problems / risks and forgetting about the 20%. It is identifying the 20% that causes the 80% and address those. And here I am touting 'risk-based' approaches every day! Will have to go back and check all those aircraft and ships I built! Thank you for a great piece! :-)
I wanted to say as an engineer I use this principle every day and teach it to young engineers - but after reading your clear explanation I realized: I never really understood it correctly. It is not just a case of focusing your efforts on 80% of the problems / risks and forgetting about the 20%. It is identifying the 20% that causes the 80% and address those. And here I am touting 'risk-based' approaches every day! Will have to go back and check all those aircraft and ships I built! Thank you for a great piece! :-)
Thanks for highlighting this. I'm looking forward to reading your publications on the Xzistor A.I. concept.