TIME MANAGEMENT

Good morning/afternoon/evening to everyone present here. I stand

before you today to discuss a topic that affects each and every one of
us, regardless of our age, profession, or background: time
management. As budding chartered accountants we have known how
valuable time is and time management is very essential especially
once we enter articleship, managing clients, studying for our exams,
maintain work life balance etc. would be a task. In our fast-paced,
ever-evolving world, time has become an invaluable resource, and
mastering the art of managing it effectively can significantly enhance
our productivity, success, and overall quality of life.
In this presentation, I will be talking about contents in relation to time
management beginning with what time management actually is, its
importance, various myths in relation to time management, challenges
and also various methods of managing time.
As the famous American poet Carl Sandburg has once quoted, time is
a valuable coin in your life that only you alone should as to how that
coin should be spent. You should never let others decide how that
coin should be spent.
So what actually is time management? In simple words it means
managing whatever time you have in an effective manner, allocating
the available time to the right activity and making the best use of that
time. The necessity of managing time is for us to be able to achieve
our goals which increases the level of efficiency and creates self-
discipline and helps us finish our work faster.
Now let’s talk about few myths that in relation to time management.
The first one says that you need to be busy in order to be productive.
That is not true. Productivity is about achieving meaningful results,
not just keeping busy with random tasks. To-do lists may help you to
organize all of your tasks in one place. But it does not assure
productivity. We need to ensure that sufficient time is also allotted to
each task in the to-do list. Multitasking does help us in finishing our
work in less time. Multitasking can actually reduce productivity and
lead to errors. It is better to focus on one task at a time and give it
your full attention. Schedules need not be inflexible. Allowing for
some flexibility and being open to adjusting your plans when
necessary can help you adapt to unexpected events or changing
priorities. Technology can never be an ultimate solution to your
problems. Technology can assist you, but it's crucial to develop good
habits and strategies independent of any specific tool. What are the
aftereffects/implications of poor management of time? It leads to poor
work flow, wastage of time, and poor quality of work, damages a
person’s reputation, losing control of life and many other factors.
Coming to the challenges of time management it can be classified into
internal, those which are within a person’s control and external are
those that are not within an individual’s control. Internal barriers can
include lack of discipline, procrastination, lack of motivation,
multitasking, anxiety, poor planning and many others. External
barriers to name a few could be workload issues, distractions, lack of
sufficient resources etc. Now we will be going through certain steps
that can be taken to make sure that our time can be put into effective
usage. First and foremost would be to set goals correctly. We can start
by defining short term and long term goals which will help in giving a
sense of direction. Then comes the turn to prioritize tasks which will
help in identifying the most important and urgent tasks and focus
must be on completing those first. Setting time constraints for
completing tasks helps you be more focused and efficient. It is hard to
stay motivated for a very long time and hence grabbing short breaks
in between work will lead to a much more efficient output. We need
to determine what work is significant and that what needs more of our
time and avoid non value added works. Utilize your calendar for more
long-term time management. Write down the deadlines for projects,
or for tasks that are part of completing the overall project. Planning
ahead can be done with the help of to-do lists that are prepared in
advance. Have a clear idea on the start of the day itself as to what
needs to get done on that day.

Procrastination may not be a familiar word to some of us but it is

something that we have all have done and still continue to do. It is a
tendency to delay or postpone an important task and replacing it with
less important and enjoyable tasks. It is a common behavior that
affects people in various aspects of their lives, including work,
education, and personal goals. While it may provide temporary relief
or gratification, it often leads to increased stress, decreased
productivity, missed opportunities, and a cycle of uncompleted tasks.
Common symptoms of procrastination include: being distracted by
non-work activities like checking our Facebook or emails, leaving
everything until the last possible moment, Lack of motivation or
interest in the task, hesitant to start a task because of being afraid of
not meeting their own or others' expectations and many more.
Some ways by which we can overcome procrastination can be to set
only realistic goals, eliminating or keeping control on activities that
distract you, creating a plan and implementing the plan.
Let us now look at some of the methods which might prove to be
helpful in time management. Pareto analysis is also known as the
80/20 rule which means 20% of your actions are responsible for 80%
of your outcomes. This method basically helps you in prioritizing
tasks that are most effective in solving problems. Pomodoro
Technique uses a timer to break down your work into intervals. Once
a task is chosen to work on, a timer is set and when the timer rings
work is stopped and a break is taken. Eisenhower matrix - Organize
your task list into four separate quadrants, sorting them by important
vs. unimportant and urgent vs. not urgent, as shown in the graphic
below. Urgent tasks are those we feel need to get done immediately.
Important tasks are those that contribute to your long term goals or
values. Ideally, you should only work on tasks in the top two
quadrants—the other tasks, you should delegate or delete.
Parkinson’s Law states that the amount of time you give yourself to
complete a specific task is the amount of time it will take you to
complete that task. Time blocking method is a productivity technique
that involves dividing the day into distinct blocks of time dedicated to
specific tasks or activities. Getting things done method process helps
you get things done by recording tasks on paper and then breaking
them down into actionable work items. RPM is designed to help
individuals clarify their goals, identify their priorities, and take action
towards achieving them. It focuses on aligning your daily activities
with your long-term objectives. Pickle jar theory helps you figure out
what is useful and what is not useful in your daily life. It allows you
to plan tasks with time to spare and set priorities for your day. Eat that
frog technique means that you need to start your day by doing the
most difficult tasks first and getting them out of the way.
In conclusion, effective time management is an essential skill that can
significantly improve our productivity, reduce stress, and enhance our
overall well-being. Throughout this presentation, we have explored
various strategies and techniques to help us better manage our time
and make the most of our days. Effective time management is a
continual practice that requires discipline, self-awareness, and
adaptability. It's a journey of self-improvement, and by investing in
our time management skills, we can unlock our full potential and
create a more fulfilling and successful life.
THANK YOU!