Managing Business Resources: Managing Time

Time management is critical to the achievement of organization goals. Projects or activities delayed due to poor time management can cost the company in terms of poor image and loss of business opportunities due to being perceived by customers as unreliable.

Benefits of Time Management

Proper time management has several benefits.

  • It conserves time allowing for the completion of many more projects or activities.
  • Proper time management ensures greater organization and therefore smoother operations
  • Reduces anxiety and stress
  • Motivates and organizes employees
  • Reduces avoidance or procrastination
  • Eliminates crisis management

Factors influencing the use of time

The use of time is influenced by the following factors:

  • Goals, values, standards – whether or not one values time.
  • Responsibilities – Many responsibilities require proper time management to complete tasks.
  • Abilities:
  • to plan, organize, perform a task
  • to manage time

Managing Time Effectively

Rules for managing time effectively include the following:

  • Realistic time plan
  • Decisive – focus on the tasks at hand
  • Leave unnecessary jobs out
  • Delegate to competent employees
  • Work faster
  • Reward yourself and employees after successful completion of important tasks.
  • Avoid  procrastination
  • Develop habits that save you time.

To-do Lists

Prepare to-do lists to ensure that you do the following;

  • Keep track of performance
  • Prioritize tasks – Important ones first
  • Focus on current task
  • Plan and ensure completion

Making a Written Time Plan

A written time plan will enable you to prepare accurate to-do lists.

Your time plan should be:

  • Simple to implement
  • Complete – include all that is necessary to complete required tasks
  • Flexible – able to be adapted to changing needs
  • Workable – Give adequate time to each task
  • Prioritize tasks according to importance rather than urgency.

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