Time Management

Introduction to time management

Time Management- If you had a bank that credited to your account each morning with Rs.86,400/-, that carried over no balance from day to day to day allowed you to keep no cash in your account and every evening cancelled whatever part of the amount you had failed to use during the day , what would you do ?Draw out every rupee every day, of course ,and use it to your advantage.

Well, you have such a bank and its name is time. Each morning it credits to you with 86, 400 seconds. Every night it rules off as lost whatever of this you have failed to invest to good purpose. It carries over no balances. It allows no overdrafts. If you fail to use the day’s deposits, the loss is yours. There is no going back. There is no drawing against tomorrow .It is up to each of us to invest this precious fund of hours ,minutes and seconds in order to get from it the utmost in wealth, health , success and happiness.
Generally, few people use their time effectively. But one can develop certain habits and techniques in Time Management which could be great help.


Importance of time management

At home and at work, everybody can benefit from finding new ways to use time as efficiently as possible. Time is our most valuable resource. By analyzing time usage on a regular basis, it is possible to understand the most efficient way to use time, both in and out of the workplace. People attitude towards time are complex and variable. If you want to use your time efficiently to accomplish all that you need to do at work and at home, you need to be aware of the current habits and attitudes that shape your use of time.

Assessing your day

There are always competing demands on your time .It is very easy to spend too much time on routine things, such as seeing TV, reading newspaper, reading mail, at the expense of high priority productive tasks.

Casting your time

It is a sobering exercise to calculate exactly how much our time costs and then realize how much of it is not being spent effectively.

Keeping a time log

Maintaining a daily log of how much time you spend on particular activities is fundamental to managing your time effectively.

Reviewing a time log

To analyses your time log , allocate all of the time chunks that you have recorded into categories according to the nature of each task , and calculate the amount of time spend on each type of task, such as meeting , reading and replying to mail, helping colleagues or making phone calls. Now calculate the percentage of time spent on each task. This will give you a better picture of your working day and will enable you to assess how you can allocate your time more effectively.

Looking for patterns

Now that you have established how your time is being allocated, ask yourself if the breakdown meets your expectation of your working day.

Estimating efficiency

Ideal time allocations as per research indicate that effective managers spend 15%, 25% and 60% of their time on routine tasks, ongoing projects and for planning and development respectively. Compare your time allocation percentages with the ideal time allocation and find ways to utilize your time more efficiently.

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