Time Management - Attidude & Value, 2008.pdf

Time Management:�Topic 1 - Attitude & Value

1. Time Management:
Topic 1 -Attitude & Value
Unit Standard 16614
Apply Time Management
Concepts & Methods in Business

2. What are your goals?
• What are your goals for this course?
• What works well for you?
• How can I help you?

3. What are my goals? That you all:
• Attend classes
• Co-operate & contribute to class discussions –
share your experiences so we can learn
• Respect others -all opinions are valid
• Do your homework!!
…and remember –the more you put in,
the more you will get out

4. Course Outcomes • Examine effective current use of personal & work
time. Define ‘effective’ use; importance, urgency,
payoff, highly productive and less productive time
• Learn how to analyse time use & identify
opportunities for improvement
• Minimise unproductive time & overload
• Use & assess time management techniques
• Apply a $ value to time
• Learn about work & personal goal setting for
productivity, prioritisation & strategy
• Learn techniques for setting priorities, deadlines
& schedules.

5. What we are going to cover this week:
• Defining time management
• Underlying attitudes and beliefs about time and
sharing our personal attitudes towards time
• The economic value of time
• How to estimate time value. Time: Week 1, Topic 1 & 2

6. What is Time Management?
• What do you think time management is?
–Discuss in small groups
–Report back
Go!

7. Definitions •Time:
The occurrence of events, one after another
•Management:
Getting things done through people
Efficiency & Effectiveness
Planning, Organising, Leading & Controlling
The act of controlling
•Time management:
using time to maximum advantage. Time
management techniques help us get more done,
in less time, with better results.

8. Time: A Valuable Resource • 86400 seconds in a day
• Once gone, can never be recovered
• Can’t bank it.
• People say they’re too busy & don’t have time to
fully do their own job, let alone anything extra
• BUT customers want fast delivery of products
and services.

9. Exercise 1
Discuss exercise 1 (page 1) in small groups:
1. Events you can’t control
2. Events you think you can’t control (but can)
3. Events you think you can control (but don’t)
4. Events you think you can control (but can’t)
5. Events you can control
– Report back
– Write up your answers in your workbooks

10. Attitudes towards Time • Our attitude towards time has changed
• We roughly output six times more per person
than we did a hundred years ago –we EXPECT
productivity gains
• There is increased pressure on all of us –our
lives have become more complex
• ‘labour saving’ devices were supposed to free us
• If we can communicate straight away, we tend to
expect the job to be done straight away.

11. Our Personal Relationship with
Time • Each of us has a different approach to time.
Know your weakness!
–Procrastinator?
–Mother’s Little Helper?
–Free Spirit?
–Perfectionist?
• Being successful doesn’t make you manage
your time well. Managing your time well makes
you successful.

12. Exercise 2
Work through exercise 2 on your own:
– Write up your answers in your workbooks
– Report back on what you find hard & what
you find easy

13. How to Save Time 1. Know your weaknesses
2. How to do that? Measure!!
– Diary
– Time Log
– Interruption Log
– Costing Your Wasted Time
– Wear a watch or use your cellphone clock
3. Learn some ‘saving behaviours’
4. Keep checking to make sure your savings
behaviours stick.

14. Time Log
• Do you really, really know where your time
goes?
• Write up your time log for today, as much as you
can remember.
• Write up how you used your time for each 30
minutes for the next week.
• Update every ½ hour whenever you can (ie not
only at the end of day)

15. Interruption Log
• Do you really, really know where you waste your
time?
• Write up your interruption log of how your time
was waylaid for the next week.
• Update every time your time gets waylaid if you
can (ie not only at the end of day as your times
will not be accurate).

16. The Value of Time
•“Remember that time is money”, Ben Franklin,
1748, giving advice to a young tradesman
•“Procrastination is the thief of time” Edward Young,
1742
•“Work expands so as to fill the time available for
its completion” Parkinson’s Law, Cyril Parkinson,
1957
•“Avoid meetings with time-wasting morons.”
(Dilbert)
•Time is a non-renewable resource. Once it is gone,
it is gone. You will never see this moment again.

17. Costing Your Wasted Time • It’s fine to say that time is a valuable resource,
but what’s it really worth?
• Because we can’t see time, we can lose sight of
the fact that time is money
• The cost of time is the combination of directand
indirect costsplus a profit margin, equalling
your charge-out rate.

18. Exercise 3: Costing Your Time
• Cost your time plus overheads:
–Annual Salary or Wage x 1.5 = ?
–Divide by # of annual working hours (eg 2040)
–Equals your cost/hour
–Divide your cost/hour by 60
–Equals your cost/minute
–Bit of a surprise? Try that for the organisation!

19. Time Costs Money! • Is it worth you mowing the lawns? Or chatting to
the neighbour? Or taking the car to the garage?
• It can be more cost-effective to delegate tasks or
sub-contract

20. Exercise 4:
Costing Other’s Time
• In pairs, work through the table on page 4
–Work out the costs for each level of employee
and relate back to your own costs
–Report back on your findings

21. Homework –THREE parts to do! 1. Complete Task 1on page 2 in the Assessment
section: “The Money Value of Time”.
– Calculate labour/hour
– Total remuneration cost/hour
– Charge-out rate/hour
– Write it up in your book & report back at the
next class.
2. AND your Time Log(Task 2, part A)
3. AND your Interruption Log(Task 2, part A)