Time Management and Metrics

Do you recognize how well you manage time? Do you've got any way of measuring this?
The fashionable management mantra is "If it cannot be measured, it cannot be managed." Will time management ability be measured?
Once more, in trendy management context, just regarding any measure cannot do. We need a metric that helps us determine how well we are doing and to help us improve. The metric should be one that we have a tendency to can set SMART goals concerning - Specific, Measurable, Attainable, Realistic and Timely.
I offer two metrics and ways that in that they may be best used. These form a subset of my "Bank Your Time" suite of metrics.
1. The first relevant metric is productivity, a live of throughput or tasks per unit time. You'll marvel if this is often a smart metric. Some tasks take longer and others take less time. Would we be comparing apples to apples or to oranges? There are 2 elements to solving this dilemma. The first is estimate how long each task must take. The second is to divide all tasks into chunks of equal complexity such that the take equal units of time. I decision these "time slice work units." Now, when you compare time slice work units, you'll be comparing apples to apples. Therefore, productivity is measured in terms of your time-slice-work-units per unit time. The caveat here is that you could go overboard in task division. Fix an applicable time slice, e.g. one/four, one/3, 1/two or 1 hour, and slice the task to fit these units. Therefore, if you manage to complete twenty units of labor per work day, this is often your productivity.
2. The second relevant metric is efficiency. I take this to mean results per unit effort. Again, this could, at initial blush, seem inappropriate. Let me explain this metric in some detail. How can effort be measured? I measure this in terms of units of work, the identical as within the previous metric. So so much, so good. How concerning results? For this, look at the estimates. The complexity of the expected result will be expressed in terms of the amount of time-slice units the task is anticipated to take. For example, if a task was expected to require 20 time-slice units however solely to 18, you have got an efficiency of twenty/18. If the task was expected to require 18 time-slice units however took as much as 20, you've got an efficiency of 18/20.
It may appear that both these measures are the same. There's a terribly slight difference between them. One is expressed in terms of labor units per time units, the opposite may be a ratio of labor units expected and actual work units. The difference, once more, is that the primary looks at productivity while not regard to actual tasks, whereas the second measures efficiency for every task.
How will this help? Among alternative things, these measures help you find out which tasks you're good at and that you'll do better at, and conjointly to line personal targets to boost your productivity.
As in anything else, the price of metrics is in how they're used.

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