INTRODUCTION

Time is a measure in which events can be ordered from the past through the present into the
future, and also the measure of durations of events and the intervals between them. A lot of
people believe money is their most important resource but in reality it is time. One can get more
money through various avenues but once time is gone, its gone forever. It is one of the most
mistreated assets available to man. Since everyone get the same 24 hours, why is it that some
people achieve so much more with their time than others? The answer lies in good time
management.
Time management is the act or process of planning and exercising conscious control over the
amount of time spent on specific activities, especially to increase effectiveness, efficiency or
productivity. It is a meta-activity with the goal to maximize the overall benefit of a set of other
activities within the boundary condition of a limited amount of time.

Managing time has several benefits such as: Greater productivity and efficiency, a better
professional reputation, less stress, increased opportunities for advancement, Greater
opportunities to achieve important life and career goals.
Failing to manage time effectively can have some very undesirable consequences such as missed
deadlines, inefficient work flow, poor work quality, a poor professional reputation and a stalled
career and higher stress levels

TECHNIQUES OF TIME MANAGEMENT

The following techniques help in time management:

TIME MANAGEMENT MATRIX

Time management matrix can be described and built in several ways, depending on what the
person who is going to use it thinks that is more important. It helps to decide which things are the
most valuable on which to spend the time and do what.

Quadrant I is Urgent and Important. This is the Quadrant of Crisis as it deals with significant
results that require immediate attention. Some people spend most of their time in this Quadrant
and experience stress and burnout doing crisis management.
Quadrant II is important but not urgent. This is the Quadrant of Quality where leaders do long
range planning, anticipate and prevent problems, empower others, and increase skills through
personal development.
Quadrant III is Urgent but Not Important. This is the Quadrant of Deception because here leaders
react to things that are urgent assuming they are also important.
Quadrant IV is Not Urgent and Not Important. This is the Quadrant of Waste reserved for those
activities that are done as an escape from Quadrant I and III activities. Examples of such
activities include reading light novels or watching mindless television shows.

ORGANISATION
Organization is the alpha and omega of time management as it helps to get an overview about
ones plans for the current day and what tasks need to be accomplished. Being organized helps in
avoiding procrastination and postponement of all kinds.
One can organize by spending some time to specify the tasks that need to be accomplished, the
projects that need attention, the problems that need to be solved and the goals that are to be
achieved in this day. This can be done by creating a task list (to-do-list) where one can write

down the main tasks that need to be done, the necessary steps that lead to the completion of
projects and work towards their achievement.

PRIORITIZATION
Prioritization is essential as it helps in focusing mainly on tasks and duties with the highest
priority before tasks with lower priority that are not related to the main goals or not contributing
towards intended output. Prioritization is an effective time management method as it enables one
to be more productive in stressful times when facing work overload so as to cast aside time for
intensive, but unimportant tasks.
There are numerous techniques that help to set priorities from the simpler ABC prioritization
and the 1-10 prioritization scale, to more in-depth and precise techniques like the Pareto
Analysis, the method to prioritize tasks from important and urgent to not important and not
urgent and the POSEC method that prioritizes by Organizing, Streamlining, Economizing and
Contributing.

ABC 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, and Chence 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, and C Tasks that are unimportant. (whether urgent or not)
Each group is then rank-ordered by priority.

PARETO
ANALYSIS
The
idea
of our tasks and
our available time,
that the remaining
take up to 80% of
The 80-20 rule
only 20% of our
80%
of
our

behind the Pareto analysis is that we can accomplish 80%

duties within 20% of
which also implies
20% of tasks will
our remaining time.
also implies that
tasks contribute to
outcome.

The
Pareto
analysis can be applied by writing down a list of
tasks that need to
be accomplished that is ranked in order of their importance, with the
slight difference
that importance in regards to the Pareto analysis means the contribution of
this task to
the overall
outcome of the goal.
The Pareto analysis allows you to focus on the accomplishment of the top 20% of your tasks that
contribute towards the maximum of your outcome, which allows you to set aside 80% of your
tasks until the most important ones are accomplished.

POSEC METHOD
POSEC is an acronym that stands for Prioritizing by Organizing, Streamlining, Economizing and
Contributing. The POSEC method can be summarized as a method to break the main goals into
smaller sub goals and tasks, which makes it easier to address one sub goal after another until the
main goal is finally accomplished.
The POSEC method is comprised by the following stages: Prioritizing responsibilities
accordingly to the goals and the available time, Organizing what needs to be achieved regularly
to maintain success, Streamlining tasks which one does not like to do but have to be done,
Economizing tasks you would like to perform that are not urgent/important and Contributing to
others.

ELIMINATION
Another essential part of time management is elimination of unproductive tasks, responsibilities
and distractions that are very time consumptive. The prioritization of tasks helps to spot
unproductive and time intensive tasks and allow to eliminate these or delegate less important
tasks.

CONCLUSION
Time management is one of most important project management process, and also it is a problem
and challenge in human life. We can conclude three major strategies for managing time in the
project, jobs or life. Firstly, priority, how to correctly prioritize the tasks in the project or life.
It is directly related to whether one can successfully reach the goals of the project or life.
Secondly, how to manage the working schedule based on the priorities if tasks, which you set
before and also control the time or tasks in the working time and thirdly, how to motivate others
or self to implement or execute tasks ground on the plan or schedule.

BIBLIOGRAPHY
https://en.wikipedia.org/wiki/Time_management
http://www.businesstruths.com/articles/your-most-important-resource-is-your-time/
https://medium.com/advice-for-college-students/is-time-our-most-scarce-resource-1baf38e73d53
http://www.mindtools.com/pages/article/newHTE_00.htm
https://eurompm.wikispaces.com/file/view/Time+Management.pdf