Time – a non-renewable resource
Time is a limited and non-renewable resource. Once it is gone, it is gone. It is not replenishable. So we should use it sparingly – efficiently and effectively. Every second counts. Therefore we should spend it efficiently and productively. Time management can be defined as the process of ensuring that the limited time you have got is used according to activities that need to be done.
It requires planning and scheduling the activities according to their importance and urgency. Importance and urgency should go together. An activity that is important and urgent should be undertaken first. Requires that there is a list of activities done, reasons why they have to been, and when they have to be done.
Your big rocks of life and prioritizing
Procrastination(Postponment)
Procrastination has variously been accepted as the thief of time. It means putting things off until a future time; promising yourself to do it later. Most people – including the successful ones now – have procrastinated at some time in their lives.
Reasons for procrastinating:
- You have too many things to do
- You don’t think that you have the requisite skill or knowledge to handle the task
- You are not interested in the task
- You are afraid of trying and failing
- You set yourself unreachable goals (you’re a perfectionist?)
- You are not clear about what is expected
- “Procrastination is the thief of time” Edward Young; Night Thoughts, 1742
Dealing with procrastination
- Set SMART (Specific; Measurable; Achievable; Realistic; Timed plus Targeted) goals.
- Do the most important things when your energy is at the highest.
- Do ‘important and urgent’ things first
- Break large tasks into smaller ones
- Identify your personal time wasters and reduce them
- Avoid work marathons (e.g. because you wasted your time, you have to work a 12 hour period. You will break down).
- Have time to rest; but please plan and schedule
- A lot extra time for the unexpected things. They usually happen.
Time wastes
Attributes of time
- Time is neutral
- Time cannot be saved for future use
- Each activity requires a minimum quantum of time
- Time has a value like currency
- Time is cumulative in nature
Principles of Time Management
- Set goals and establish priorities
- Spot the time wasters
- Live Time Management
- Think quality not quantity of time
- Organize yourself for success – Prioritize; Clear your desk; delegate work to others, stay healthy in body and mind; Act purposefully and positively.
- Write a Daily Time Schedule: Time, Activity, and Priority
- Work to suit your preferred lifestyle
Planning for your time
Bad time management may be equated to stress; and no one works well under pressure. To use your time efficiently and effectively, you need to plan your time. First list the activities to de undertaken; rank them according to priority in a descending order; prepare a week’s plan; and implement.
Planning can be referred to as the process of analyzing the current position, preparing a strategy for the future, implementing the activities in your strategy, and measuring results. Results can be measured by monitoring and/or evaluation. Control is part of the plan. It looks at M&E; and the contingency plan (‘just in case’ or a risk plan).How will spend your time in lifetime? Look at an average American:
If you are an average American, in your lifetime you will spend:Seven years in the bathroom; six years eating; five years in line; three years in a meeting; two years playing telephone tag; eight months opening junk mail; six months at the red lights; get interrupted 73 times a day; take an hour of work home each day; read less than 5 minutes a day; exercise less than 3 minutes a day.
Important- Urgent matrix
Pareto 20/80 rule and time wasting
Vilfredo Pareto was an Italian economist who is credited with the 20/80. The rule states that you cannot get better off without making somebody else worse off. In modern times, and in business management, it means that 20 percent of customers give the company 80 percent of the profits. It also means that 80 percent of customers give the company 20 percent of the profits. The rule has been applied to time management to mean that most people use 20 percent of their time doing important things; and waste 80 percent. We need to use more of time doing things that help add value to ourselves. We need to get more time for the 80 percent and add it on the 20 percent. Imagine what would happen if we used 80 percent of our time doing effective and important activities or things! This world would be full of hard workers; and probably millionaires.
