Improving Efficiency through Improving Time management

transcript

Improving Efficiency through Improving Time

ManagementBY

Prof. Waswa Balunywa

Advice to a trader

“Remember time is money”Ben Franklin, 1748

(American Politician, Scientists and Inventors)

Prof. Waswa Balunywa, PhD 2

• Africans known for not keeping time• Cultural problem of event time• An event takes place irrespective of time• But world has moved to a 24/7 day• African managers must reform

3Prof. Waswa Balunywa, PhD

Objective of the session

• Recognize the importance of time • Identify causes of time wasters• Identify indication of time management• Design methods of dealing with time

management

Why study time management• Become more efficient• Live a meaningful life with less stress• Time is money• Time is limited• Time is non-renewable• Everything you do has an opportunity cost• Poor time management leads to lossesEnables us to do the things at the right time and

improve on efficiency5Prof. Waswa Balunywa, PhD

Why study ...• So that we can get the best out of it• So that we can do the important things• So that we know what to do, when

Time as unique resourceTime is a unique resource, different from other resources of finance, equipment, manpower, marketing, managerial skills, etc,. How•It is finite i.e. Limited in supply and nobody has more time than other people• It cannot be stored• It cannot be replaced• A day once gone will not return

• They are only 24 hours a day• 1440 minutes a day• 84000 seconds a day• It cannot be increased

Unique resource- cont’d• It cannot be stored for tomorrow’s use• It cannot be replaced for example last

Tuesday will never come around again• It is involved in every part of management

processThus there is a great need to husband it properly

and utilize it not only efficiently but more so effectively

Causes of poor time management• Lack of planning• Procrastination• People interruptions• Telephone interruptions• Doing subordinates work• Meetings• Stacked desk• Fire fighting• Information overload

Causes...

• Unimportant tasks• Waiting for others• Lack of priorities

Indicators of poor time management

• Messy desk• Cluttered office• Missed appointments• Not prepared for meetings• Doing other peoples’ work• Lack of delegation• Stress• Lack of focus• Procrastination

Consequences of poor time management

• Stress• Loss of opportunity• Inefficiency• Loss of productivity• Inability to meet targets

How to manage time

a) Plan usage of your time, set goalsb) Pareto principle of 80/20c) Better management of meetingsd) Personal management of timee) Information management policy

Planning for time

If you don't know where you are going, any road will take you there!•Establish goals and targets•Establish how to achieve them•Identify resources to use•Set priorities: – What is important– What is urgent

How do we spend our time in a day?

Answer Questions• Why am I doing this?• Ask why, why, why many times• What do I want to achieve?• Is that important?• What to loose if I don’t do it.

• You can always change. You plan but only if you have one

• Make a to do list to focus your time and energy

• Keep the to do list live

Frequencies of planning

• DailyWhat to achieve in a single day

• WeeklyPriorities for the week

• MonthlyMajor things to focus on

Pareto Principle 80/20

• 20% of time gives 80% of value• 80% of information is trivial• 20% of information is critical• The critical few and trivial many• Concentrate more on the 20% critical issues

Management of meetings

Types of meetings• One on one• Formal meetings• Informal meetingsIs a meeting necessary?Does it have purpose?Is a meeting the best way to achieve a purpose?Does it have a time period?

How to manage a meeting?

• Plan for the meeting• Send out documents in time• Ascertain venue and all that is required• Have rules for the meeting• Involve everybody• Keep time

Personal management• Plan your time• Organize yourself• Understand the value of time• Plan your day ahead• Have objectives for every activity• Why are you doing a job?• What resources do you have?• Know how you can be efficient• What are your strengths and weaknesses?

Personal management....

• Bite what you can chew• Be willing to say no• Become assertive• Know what to delegate and do• Teach your assistants to work with you• Have specific times for specific things e.g.

Office routine, meetings with outsiders, meetings with your staff.

Have an Information management policy• Have a study to manage information• Handle paper once• Use phones for your benefit• Determine what you want to use; email and

social media form• Apply the 80/20 rule for information

Strategies of time management

• Planning• Delegating• Priotizing• Learning to say ‘No’.

Planning

To make good use of time, plan your day, your week and decide what you want to achieve. This will result into priority, delegating and a good usage of time.

Schedule yourself. Find time for important things

Delegating

When you plan, you leave routine decisions and action to others to do. You delegate . It frees you to do strategic things

Learn to say No.

At times people want you to do all kind of things. After meetings , weddings etc

Learn to say you will not be able to.

Handling phone calls

• Mobile phone has created change in the way phone is managed

• The old phone system was easier to control which channelled phones through a secretary

• Today a mobile phone is personal• Every caller sets an agenda for a recipient

Multi tasking?• Good or bad• Some people can, other cannot• It can cause task completion longer• Can be dangerous e.g. Speaking on phone or

you drive• Can be necessary e.g pilot

Improving Efficiency through Improving Time management

Education