Time Management

According toWard, S (2014), “time management refers to the development of processes and tools that increase efficiency and productivity.”In simple terms time management is all about how we utilize time effectively and efficiently using different approaches and techniques.

There are different techniques available to manage time effectively. Below mentioned are some tools:

1.      Mind Map

This is a simple tool which can be used to manage time. This basically allows a user to draw out the activities or tasks he has to do and ensures they are done. According toMindtools, (2014), it also can be used for recording information in an effective way, summarizing data, information and can be used as a problem solving technique.

Below mentioned diagram shows a example of a mind map:

Figure 1
Source: Mindtools, (2014)

One of the main key points in managing time is by prioritizing your day to day activities in a way which helps you identify the important urgent tasks form the usual tasks.

2.      The below table can be used in order to prioritize your activities on a daily, monthly, yearly basis.

Prioritizing according to above mentioned categories will help you understand your tasks in a better sensible way. This can be further used to rank your activities based on importance which allows you to mange time in an effective way.

3.     Use Lists

As simple as it sounds, always organize what you have to do for upcoming days in advance. This allows to plan out in advance and to complete tasks on time and to utilize time in an effective way.

According to Kennedy and Kennedy, (2014) , the following lists can be used to organize your activities

·         My schedule – day to day plan.

·         To-do-List – Things to be done on a weekly or monthly basis

·         People to Call list – important phone calls to be jot down in this list.

·         Conference Planner – This is maintained in order to note down the important things to be discussed with the relevant person.

4.      80-20 Rule

This was a rule identified by Vilfredo Pareto after observing the wealth distribution. He identified that only 20% of the population owned nearly 80% of the wealth. This was the foundation to become the 80-20 rule. (Pinnicle.com, 2014)

According to Investopedia, (2009),this rule is applied in many areas such as management, manufacturing and human resource, etc. this also can be applied in time managing as follows;

It is evident that the first 20% time spent on an activity accounts for 80% of the work done. By understanding this rule it helps to eliminate non value adding activities and increase efficiency of time spent.

It is extremely vital to analyze and find out the non value adding activities and time wasters, and take necessary pre cautions to avoid them. According to Business-personal-coaching.com, (2014), following are considered as the top 10 time wasters;

1.      Lack of planning, prioritizing and focus

2.      Procrastination – You give excuses to postpone your activities/tasks.

3.      Interruptions – unanticipated events that interrupts your plan.

4.      Lack of delegation.

5.      Meetings – unnecessary pointless meeting without a proper purpose

6.      Crisis management, fire fighting – when too many tasks come at once, managing becomes ineffective.

7.      Telephone, email and Internet.

8.      Not saying 'No' – taking too many responsibilities on your shoulder without refusing.

9.      Lack of organization and untidiness

10.                        Not enough time-off or time for yourself

“He who every morning plans the transactions of that day and follows that plan carries a thread that will guide him through the labyrinth of the most busy life.” - Victor Hugo