Time Management

•  Time is an Asset – Once gone, it’s gone

•  Refining Management Behavior

•  A Seven-Step Approach

Time Management

Time Management

Time Management, A 7-Step Approach: 1.  List tasks that must be performed 2.  Determine the time required for each 3.  Analyze how tasks are being performed now 4.  Construct a skills inventory of key personnel 5.  Calculate percentage of time spent on each activity 6.  Construct a functional Time-Use matrix 7.  Formulate a Time-Use budget.

Time Management

Step 1: List Tasks or Functions to be performed

Two Approaches for Listing Critical Tasks: 1.  List the basic management

functions that must be performed 2.  Use and organizational chart

Time Management

Management Functions

•  Planning •  Organizing •  Staffing •  Supervising

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•  Directing •  Controlling •  Coordinating •  Innovating

Management Functions – Planning

•  What is the business? •  What objectives does the business have? •  How will the business achieve these objectives? •  What resources are available to reach these

objectives? •  What additional resources are needed? •  When will the business reach certain benchmarks –

break-even point, profit level, value of assets?

Time Management

Management Functions – Organizing

Two Aspects: 1.  Top-Down Approach

Goals à Tasks

2.  Bottom-Up Approach

Tasks à Specific

People

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Management Functions – Staffing

Allocation of Tasks: •  Hiring •  Training •  Motivating •  Reviewing

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Management Functions – Supervising

Three Critical Functions:

•  Observation •  Training or remedial

training •  Job enrichment

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Management Functions – Directing

•  Problem solving •  Wasting time •  Program the

routine decision rules

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Management Functions – Controlling

Requires: 1. Setting standards or objectives 2. Maintaining current operating records for comparison with the standards adopted

3. Acting promptly when operations deviate from the standard more than is deemed acceptable

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Management Functions – Controlling

•  Without coordination, objectives will not be met

•  Any business must be viewed as a system composed of interrelated parts –  Parts must operate in balance with each other if the

business is to perform effectively

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Management Functions – Innovating

•  Has become a necessary function for virtually any business

•  Can things be done differently? •  Can the business become more efficient or

effective?

“The business must stay tuned to changes in the environment, the industry, the community, the country, and even the world as a

market-place.”

Time Management

Step 2: Determine the Time Required for Each Task or Function

•  Analyze tasks •  Prioritize

–  Priority ranking schedule •  Record events and time

–  Analyze –  Where is time being well

spent? –  Where is time being

misspent?

Time Management

Priority Ranking Schedule (Six Steps)

1.  Rank the various jobs in order of importance. 2.  Divide into (at least) 2 classes, based on whether the

time spent on it can be controlled or not. 3.  Decide which ones can be done by someone else

(and when). 4.  Identify those that could possibly be done more

efficiently by adopting new procedures. 5.  Identify training time and costs that may be needed

to implement new procedures. 6.  Begin a tickler file for routine reporting and control

needs.

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Step 3: Analyze How Tasks or Functions Are Now Being Performed

Functional Task Analysis: •  Determine all the tasks that need to be performed and

are being performed in order to make the organization function

•  Look at the relative distribution of these tasks by the amount of time allocated to each, all with the objective of establishing a new schedule and a new set of priorities

Time Management

Step 4: Construct Skills Inventory of Key Personnel

•  Who Will Do What –  What is each person good

at? ...bad at? –  What does each person

especially like to do? …dislike doing?

–  What must be done by each key person that no one else can do?

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Step 5: Calculate Percentage of Total Time to be Spent on Activities

Efficiency: •  Utilize time efficiently •  Don’t ignore any aspect of the business •  People only have so much energy

–  Limit the time investment in the business to a certain number of hours that everyone agrees is reasonable

“Run your business – Don’t let it run you.”

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Step 6: Construct a Functional Time - Use Matrix

•  Task •  Time Required •  Time Available •  Total Time Available •  Time Needed •  Total •  Total Employee Time

Available

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Step 7: Formulate a Time-Use Budget

•  Plan for problems •  Time override •  Some functions and activities must be done at

specific times –  Downtime, training, and maintenance

“Run your business – Don’t let it run you.”

Time Management

Question & Answer