Explain the concept of a Pareto Chart – provide an example – explain h

Chapter 10: Risk Monitoring and ControlInitial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.Also, provide a graduate-level response to each of the following questions:

1. Explain the concept of a Pareto Chart – provide an example – explain how the concept of the Pareto Chart might be used in making decisions about handling negative risks which could impact a project or organization.

Text

Title: Managing Project Risks ISBN: 9781119489733 Authors: Peter J. Edwards, Paulo Vaz Serra, Michael Edwards Publisher: John Wiley & Sons Publication Date: 2019-08-13