Time Management - Balancing the urgent and important!!

TIME MANAGEMENT

Balancing the urgent and important!!

Copyright: 2015 Enterprising Partnerships Pty Ltd 23 January 2015

INDEX

What will you learn

» Why this topic is so important

» How eliminating time wastage is

an opportunity for productivity

» Why managing time is important

» How to manage time

© Time Management | Frank Wyatt 2

WHY STUDY THIS COURSE?

© Time Management | Frank Wyatt

This presentation will allow you to:

• Identify the opportunity cost of

time

• Focus on why to manage time

• Determine who is responsible for

your time

• Apply the 80:20 rule

• Use a time log and how to

analyse it

• Determine the urgent versus the

important

• Achieve meeting efficiencies

• Exclude tasks

• Use your day more efficiently

3

COMPETENCIES


1. How much is your time worth?

2. What is the opportunity cost of

your time?

3. What value would you put on

having additional time?

4. How would you use more time if

available to you?

We all get allocated the same

amount of time in our lives

subject to when we die.

How we use this time will

determine how effective you are

or how much you procrastinate

and waste this scarce resource.

This course will enable you with

tools to maximise your scarce

time resource.

4

WHY MANAGE YOUR TIME?


What will you gain from

managing your time?

Do you ‘mean’ to manage your

time, yet the urgent still

captures the important?

Why don’t you manage your

time better?

.

5

WHAT EXCUSES DO YOU GIVE

YOURSELF?

© <Name> | Contact person for this course

Some excuses are…

• Leave it and it will go away

• Not my job

• I will only be criticized

• No resources

• I am too tired right now

• I am a perfectionist and so can’t

do this right so I’ll not do it

• Not enough time

• The boss will only change

his/her mind

.

6

WHAT IS TO BE GAINED FROM

MANAGING YOUR TIME?

© <Name> | Contact person for this course 7

To avoid

this!!!

…and to do

more in less

time!!

DID YOU MEAN TO BE MORE

EFFICIENT WITH YOUR TIME?


Who’s responsibility for

managing it?

Do you blame everyone /

thing other than yourself?

Do you enjoy living in

crisis?

Are you too lazy to manage

your time?

Playing the blame game; get over it!!

THE 80:20 RULE: WHAT TO FOCUS ON


The 80/20 principle states that in

many situations about 20% of what

you do yields about 80% of the

results.

With a typical to-do list of ten items, the

80/20 principle suggests that two of them

will yield about 80% of the value.

The remaining eight will yield the remaining

20%.

For example, 20% of your customers give

you 80% of your sales - concentrate on

those customers.

20% of your customers make up 80% of

your complaints - keep your perspective.

20% of the inventory gets 80% of turnover -

keep these items well supplied.

If you remember and

implement this principle, it

will not only give you a

greater peace of mind but

also make you much more

effective.

OPPORTUNITY COST OF TIME


• What is opportunity cost? It is what

else could you do with a resource.

• What is the opportunity cost of lost

time? Here’s an example:

• Salary per hour = $100

• Plus: support costs per hour =

$100

• Total $200/hour

• Possible to save 2 hours per day

with greater efficiencies &

effectiveness

• 200 x 2 x 5 = $2000/week or

$104,000/year

HOW TO MANAGE YOUR TIME


• Use an Activity Log (Google

‘Activity Log’ for examples)

• Be honest and accurate

• Analyse your log

Questions:

• How did I use time?

• How much time was wasted?

• Was I focused on what I

classified as valuable?

• When did the urgent steal

from the important?

ORGANISE YOUR TIME


1. Plan your time

2. Prepare a ‘To do list’ - end of

every day

3. Allocate priorities & time/task

& schedule

4. Who can you delegate tasks

to?

5. Review why today’s list did

not get completed & actions

to fix this – look for patterns

TIME MANAGEMENT MATRIX


Prioritise!!!

URGENT NOT URGENT

IMPORTANT 1 2

NOT IMPORTANT 3 4

Urgent should not be allowed to steal

time from important!!

MEETING EFFICIENCIES


1. ASK: “why hold this meeting?”

2. ASK: “what would it take to not hold

the meeting?”

3. ASK: “what is the opportunity cost

of this meeting?”

4. Hold only when required & reasons

are clear

5. Set Agenda with priorities (critical

issues, important, if time allows) &

set time limits. Meet standing up!!

6. Expect prior planning & preparation

7. Focus on actions & solutions

USE THE DAY!!


Get up one hour earlier (go to be earlier)

Avoid distractions

- schedule time, appointments, customers,

visitors

Be open to others only when it is scheduled

- be available to yourself in other times

Set boundaries

– turn off your email notice, schedule times

for emails, advise staff of limits, use

messaging on phones

Arrange phone calls in groups

- only make those which YOU should make

Focus, structure & conciseness

- save the best time for important matters

(know thyself) & don’t procrastinate

SUMMARY


1. Commit to planning your time - a finite

scarce & valuable resource

2. Use an Activity Log to analyse &

evaluate your time efficiency and

effectiveness

3. Learn the opportunity value of the time

you have by knowing how you use it

4. Control the distractions that will steal

your time

5. Have more time for whatever you

choose

0414 392323

[email protected]

Enterprising Partnerships

PO Box 5127

South Melbourne 3205

@communityep

@ENTER_EP

enterprising-partnerships

enterprisingpartnerships

frank19491

www.enterprisingpartnerships.com.au/getting-down-to-business www.youthcentral.vic.gov.au

CONTACTS


Balancing the urgent and important

Leadership & Management

Time Management - Balancing the urgent and important!!