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Effective time management is an indispensable skill. In Time Management Fundamentals, Dave Crenshaw explains how to sensibly allocate time in order to achieve greater productivity. Dave details a set of principles for staying organized, consolidating the workspace, keeping a clear mind, and developing a time budget. Also covered are techniques for managing a full inbox, processing email, and reserving time for the most important activities.
This course qualifies for 2.75 Category A professional development units (PDUs) through lynda.com, PMI Registered Education Provider #4101.
Let's go through a brief exercise to help you identify your top two valuable activities. You can use a piece of paper for this exercise, but you may find it faster to use the handout we've provided. We'll use this simple chart to list all the different activities that you perform. On the handout that we've given you, I've already added two activities for you. The first is travel, meaning travel time to and from work, and the second is wasting time, meaning choosing to waste time at work, such as viewing social media sites or spending excessive time gossiping with coworkers.
Now begin listing the other activities that you perform during work. For example, managing employees, calling for sales, marketing, writing press releases, booking travel, or janitorial. Think of them as mini-positions. Imagine yourself wearing many different hats, each of them representing the position, and every time that you have to switch hats that would be a different activity. Go ahead and list as many of those activities as you can think of in the first column.
Pause the video right now and do that. Then come back when you're done. Now that you've filled in that first part, let's get to the next column. In the second column next to each of those positions that you listed, write what you think an average annual salary would be for someone on that job, assuming you hired them full time. Go ahead and write that number down in the column next to it. If you don't know the annual salary, you can usually use a search engine to look up salary information for different types of positions.
However, don't be too particular about it. Just give your best guess on the number and write it down. We're looking for rough numbers here, not perfection. Go ahead and pause the video right now and list the annual salary that someone would be paid for each of these positions. Now that you've listed the activities that you perform and you've listed the annual salary, the last step that we need to do in the third column is list the estimated hourly wage.
Divide the annual salary by 2080. 2080 represents 52 for the weeks of the year and 40 for an average workweek of 40 hours per week. Divide each of those annual salaries by 2080 and then put the result. What you'll end up with is an estimated hourly wage for each of those activities. Again, this is a rough estimate designed to give us a normalized scale for the value of each activity.
Go ahead and pause the video now to complete this column. And finally, the last step is to rank the different activities according to their value per hour. The first two that I gave you are traveling and wasting time. These are both worth zero, absolutely nothing. So wait to rank them until the end, as they'll be dead last. Once you've created a rank for all these different activities, you'll be able to easily identify your top two most valuable activities.
These are the things that you do that are worth the most in your week, that are the most difficult to replace, and bring the most bottom-line impact to both your company and your career.
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