If this will performed at every managing level in entire organization, On my opinion world will be more safe...

Steps to identify the important causes using Pareto analysis:

Step 1: Form an explicit table listing the causes and their frequency as a percentage.
Step 2: Arrange the rows in the decreasing order of importance of the causes (i.e., the most important cause first)
Step 3: Add a cumulative percentage column to the table
Step 4: Plot with causes on x- and cumulative percentage on y-axis
Step 5: Join the above points to form a curve
Step 6: Plot (on the same graph) a bar graph with causes on x- and percent frequency on y-axis
Step 7: Draw line at 80% on y-axis parallel to x-axis. Then drop the line at the point of intersection with the curve on x-axis. This point on the x-axis separates the important causes (on the left) and trivial causes (on the right)
Step 8: Explicitly review the chart to ensure that at least 80% of the causes are captured

Reference: http://en.wikipedia.org/wiki/Pareto_analysis