Time management is the process of planning and controlling how much time to spend on specific activities. Good time management enables an individual to complete more in a shorter period of time, lowers stress, and leads to <a href="https://corporatefinanceinstitute.com/resources/careers/how-to-job-guides/financial-analyst-guide-trifecta/">career success </a> .

A Brief Guide to Time Management

The inability to plan ahead and stick to goals means poor efficiency. For example, if there are several important tasks to complete, an effective plan would be to complete related tasks together or sequentially. However, if you don’t plan ahead, you could end up having to jump back and forth, or backtrack, in doing your work. That translates to reduced efficiency and lower productivity.

1. Poor workflow

It is important to remove excess activities or tasks. Determine what is significant and what deserves your time. Removing non-essential tasks/activities frees up more of your time to be spent on genuinely important things.

6. Remove non-essential tasks/activities

Good time management gives you extra time to spend in your daily life. People who can time-manage effectively enjoy having more time to spend on hobbies or other personal pursuits.

2. More time

Poor time management typically makes the quality of your work suffer. For example, having to rush to complete tasks at the last minute usually compromises quality.

4. Poor quality of work

Managing time well leads to more opportunities and less time wasted on trivial activities. Good time management skills are key qualities that employers look for. The ability to prioritize and schedule work is extremely desirable for any <a href="https://corporatefinanceinstitute.com/resources/knowledge/finance/corporate-structure/">organization </a> .

3. More opportunities

After considering the benefits of time management, let’s look at some ways to manage time effectively:

List of Tips for Effective Time Management

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. Think about which days might be best to dedicate to specific tasks. For example, you might need to plan a meeting to discuss cash flow on a day when you know the company CFO is available.

5. Organize yourself

Set goals that are achievable and measurable. Use the SMART method when setting goals. In essence, make sure the goals you set are S pecific, M easurable, A ttainable, R elevant, and T imely.

1. Set goals correctly

By not knowing what the next task is, you suffer from loss of control of your life. That can contribute to higher stress levels and anxiety.

3. Loss of control

Let’s also consider the consequences of poor time management.

Implications of Poor Time Management

When doing a lot of tasks without a break, it is harder to stay focused and motivated. Allow some downtime between tasks to clear your head and refresh yourself. Consider grabbing a brief nap, going for a short walk, or meditating.

4. Take a break between tasks

Make sure you start every day with a clear idea of what you need to do – what needs to get done THAT DAY. Consider making it a habit to, at the end of each workday, go ahead and write out your “to-do” list for the next workday. That way you can hit the ground running the next morning.

7. Plan ahead

If clients or your employer cannot rely on you to complete tasks in a timely manner, their expectations and perceptions of you are adversely affected. If a client cannot rely on you to get something done on time, they will likely take their business elsewhere.

5. Poor reputation

The ability to manage your time effectively is important. Good time management leads to improved <a href="https://corporatefinanceinstitute.com/resources/careers/jobs/corporate-development-guide/">efficiency </a> and productivity, less stress, and more success in life. Here are some benefits of managing time effectively:

Benefits of Time Management

Making and following a task schedule reduces anxiety. As you check off items on your “to-do” list, you can see that you are making tangible progress. This helps you avoid feeling stressed out with worry about whether you’re getting things done.

1. Stress relief

Poor time management results in wasted time. For example, by talking to friends on social media while doing an assignment, you are distracting yourself and wasting time.

2. Wasted time

Individuals who practice good time management are able to better achieve goals and objectives, and do so in a shorter length of time.

4. Ability to realize goals

Prioritize tasks based on importance and urgency. For example, look at your daily tasks and determine which are:<ul><li>Important and urgent: Do these tasks right away.</li><li>Important but not urgent: Decide when to do these tasks.</li><li>Urgent but not important: Delegate these tasks if possible.</li><li>Not urgent and not important: Set these aside to do later.</li></ul>

2. Prioritize wisely

Time management is the process of planning and controlling how much time to spend on specific activities. Good time management enables an individual to complete more in a shorter period of time, lowers stress, and leads to career success. This guide provides a list of the top tips for managing time well

3. Loss of control

Similar ideas to 3. Loss of control

Internal Vs External Locus Of Control

Control Your Time

What we can control