Time Management

Time Management
Time is the abstract conception of continued existence. It is the most valuable resource of production that once lost can never be regained. An effective management of time is a key of a successful manager. Time management is neither a technique nor a system. It is a mind-set. The first step in time management is undertaking the analysis of time and identifying time wasters. Time wasters, for the purpose of time management, is anything that prevents the executive from achieving his objectives in the most effective way.
Most common time wasters are:
Ø Telephone interruptions.
Ø Drop-in-visitors.
Ø Meetings
Ø Crisis Management.
Ø Lack of objective, priorities or daily plan.
Ø Personal disorganisation.
Ø Ineffective delegation.
Ø Attempting too much at once.
Ø Lack of/ unclear communications.
Ø Inaccurate/ inadequate/ delayed information.
Ø Procrastination/ indecision.
Ø Confused responsibility and authority.
Ø Inability to say “no”.
Ø Lack of self-discipline

Leaving tasks unfinished.Time wasters can be classified broadly under two heads:
Ø Internal Time wasters
Ø External Time wasters
Examples of external time wasters are:
Ø Telephone Interruptions;
Ø Drop-in-visitors;
Ø Unscheduled meetings, etc.
Ø These are generated by others.
Examples of internal time wasters are:
Ø Failure to set objectives,
Ø Priorities and deadlines,
Ø Ineffective delegation,
Ø Unnecessary involvement in routine matters
Ø Procrastination,
Ø Indecision, etc.
Ø It is far more difficult to get rid of internal time wasters.
Plug the time wastersSelect carefully only two, three or four time wasters of prime importance for elimination.
Follow-up examples of internal time wasters are:
Ø Failure to set objectives,
Ø Priorities and deadlines;
Ø Ineffective delegation;
Ø Unnecessary involvement in routine matters;
Ø Procrastination/ indecision, etc.
These are self-generated time wasters for which the executives have to blame themselves. Use the “A”, “B”, “C” priority system:
Write a capital “A” to the left of those items in your task list that have a high priority value,
“B” for those with medium value and
“C” for those with low value.
Items marked “A” should be those that yield the most value. You get the most out of your time by doing your “A”s first, and saving your “B”s and “C”s for later.
Taking account of the time of the day and urgency of the tasks, you can break the “A” s down further so that the “A” items become A1, A2, A3, A4, and so on….
How to manage time:
v Recording Time
v Consolidating Time.
v Finding out where your time actually goes.
v Cutting back unproductive demands on your time.
v Consolidating your discretionary time into largest possible continuing units.
Analysis of time log:
Ø Is this the way I want my time to go? How can I improve my time utilization?
Ø Many activities should not have been done at all.
Ø A number of activities could have been delegated.
Ø The time spent on many activities could have been reduced.
Ø Some of the activities could have been screened by the Subordinates and directed by them to the proper person.Manage your time stealers:
Ø Frequent meetings without any agenda.
Ø Not being good chairman of a meeting.
Ø Too many interruptions to others and yourself.
Ø Not giving detailed instructions to your people.
Ø Not taking timely decision.
Ø Statistics collection; too much is not good.
Remember Time and Tide waits for no MAN.