Pareto's 80%-20% principle

Importance of Time Management
How can you link the importance of time management to Pareto’s Principle?

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What the heck is Pareto’s principle?
Pareto was an Italian economist in 1890. In simple words, Pareto’s Principle means:
“A few causes account for most of the effect.”
It is also commonly known as the 80:20 Rule. It has proven its validity in a number of areas.
For example:
80% of success comes from 20 % of your key activities.
80% of your measurable results come from 20% of your TO DO list.
80% of your interruptions come from 20% of your people.