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Pareto Optimality
V Pareto, Manuale d'economia politica (Milan, 1906) Pareto OptimumA situation is considered Pareto Optimal or at the Pareto Optimum (cf: Pareto Efficiency) when it is the "best that could be achieved without disadvantaging at least one group." (Allan Schick, in Louis C. Gawthrop, 1970, p.32) and much like many of Pareto's works, have been found to be far more compelling and applicable then initially believed. Applied Pareto OptimalityAll projects are constrained by the Project Triangle (Time, Scope, and
Money). Based upon a given projects unique constraints, a project
manager's goal is to complete the project with Pareto
Optimality, balancing these constraints and finish the project.
Resource tradeoffs for project duration, adjusting scope using the (
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