Meaning of Time Management
Time management refers to completing certain tasks in a given time.
Time management may be seen as prioritising multiple tasks differently. It also means allocating different time slots to these tasks depending on their relative importance and urgency.
In a general sense, Time Management means the process in which one manages to complete the daily routine tasks, domestic chores and manages to meet one’s daily personal goals more or less effectively.
In a cultural sense, time management has implications of punctuality. Being on time for appointments, meetings, etc. is a valuable personal and cultural asset. The concepts of time management and punctuality have cross-cultural differences across continents: some more relaxed and others stricter.
Time management would refer to managing a sequence or series of jobs in an industrial set-up. This generally involves computerization and mechanization, so that the machines complete the assigned tasks from start to finish, controlled by a software program.
Advantages of Time Management
- Time management leads to increased efficiency.
- You can achieve more in the same time.
- It is vital for professionalism.
- The task focus goes up.
- If a population prioritises time management, the productivity of the country goes up.
- In a factory time management can save a lot of man hours.
- It is important for confidence building.
- Punctual cultures are looked upon with respect.
- Personal life can be organised much better.
- You can focus on the things that are really meaningful to you.
- You can plan for contingencies and errors.
- One successful system can be replicated.
- It results in resource and cost saving.
- It increases your dependability and credibility.
- It is vital for psychological well-being.
Disadvantages of Time Management
- Excessive pressure of time management can adversely affect overall project quality.
- Lack of proper prioritization can affect individual task focus.
- External variables can always stay beyond control.
- Ineffective planning of time management can be a source of stress.
- In a factory with a planned sequence of time management steps, a small error may disrupt the entire process.
- Over dependence on time management can kill the human element.
- Time management should not take priority over actual work focus.
- Excessive control can escalate tensions leading to failure of the entire project.
- Too much focus on time management can compromise on the fun value and hence the productivity of tasks.
- Habituation to time management can compromise on flexibility.
- In case of a delay, there is a tendency for the team to go into panic mode.
- Sometimes penalties for delays may be set unduly high leading to a drain on motivation.
- It is not a replacement for human intelligence and caution should be advised for the same.
- It can become an obsession and hence counter-productive.
- It can be an additional cost in the early stages.
Time management is a valuable skill to raise efficiency. But like everything else in life, it needs to be utilized properly by human intelligence.