Time Management

Definition - Time management is the process of planning and exercising conscious control
of time spent on specific activities, especially to increase effectiveness, efficiency, and
productivity. It involves the balancing of various demands upon a person relating to work,
social life, family, hobbies, personal interests, and commitments with the finite nature of
time.
In general terms, time management refers to the growth of processes and tools that increase
productivity and efficiency. Good time management leads to improvement of your work and
personal life balance, and thus it leads to happiness.
“A man who dares to waste one hour of life has not discovered the value of life”

- Charles Darwin

Tips for Time Management

 Techniques and Method of Time Management

1. ABCD Analysis - A technique that has been used in business management for a long
time is the categorization of large data into groups. These groups are often marked A, B,
C and D—hence the name. Activities are ranked by these general criteria:
A – Tasks that are perceived as being urgent and important,
B – Tasks that are important but not urgent,
C – Tasks that are unimportant but urgent,
D – Tasks that are unimportant and not urgent.
2. Pareto Analysis - Pareto analysis is based on the observation that operational results
and economic wealth are not distributed evenly and that some inputs contribute more than
others. It is referred to as the “80/20 rule,” a nomenclature which has popularized a
complex economic concept introduced by Vilfredo Pareto, a nineteenth-century Italian
economist. Pareto observed a pattern of “predictable imbalance” where 80% of Italy’s
wealth was held by 20% of the population. This analysis shows that for many outcomes,
roughly 80% of consequences come from 20% of causes (the "vital few"). Other names
for this principle are the 80/20 rule, the law of the vital few, or the principle of factor
sparsity.
3. The Eisenhower Method – “What is important is seldom urgent and what is urgent
is seldom important.” – Dwight D. Eisenhower
The "Eisenhower Method" or "Eisenhower Principle" is a method that utilizes the principles
of importance and urgency to organize priorities and workload. This method stems from a
quote attributed to Dwight D. Eisenhower: "I have two kinds of problems, the urgent and the
important. The urgent are not important, and the important are never urgent.”
Dwight D. Eisenhower, the third president of the United States, invented Eisenhower Matrix.
It is a useful tool used for decision making. It helps students prioritize and decide on tasks
given to them according to their importance by dividing them into urgent and less urgent
tasks. Tasks in the quadrants are then handled as follows.
1. Important/Urgent quadrant tasks are done immediately and personally e.g. crises,
deadlines, problems.
2. Important/Not Urgent quadrant tasks get an end date and are done personally e.g.
relationships, planning, recreation.
3. Unimportant/Urgent quadrant tasks are delegated, e.g. interruptions, meetings,
activities.
4. Unimportant/Not Urgent quadrant tasks are dropped, e.g. time wasters, pleasant
activities, trivia.
4. POSEC Method - POSEC is an acronym for "Prioritize by Organizing, Streamlining,
Economizing and Contributing". The method dictates a template which emphasizes an
average individual's immediate sense of emotional and monetary security. It suggests that
by attending to one's personal responsibilities first, an individual is better positioned to
shoulder collective responsibilities.
Inherent in the acronym is a hierarchy of self-realization, which mirrors Abraham Maslow's
hierarchy of needs.
1. Prioritize your time and define your life by goals.
2. Organize things you have to accomplish regularly to be successful (family and
finances).
3. Streamline things you may not like to do, but must do (work and chores).
4. Economize things you should do or may even like to do, but they're not pressingly
urgent (pastimes and socializing).
5. Contribute by paying attention to the few remaining things that make a difference
(social obligations).

The End