Utilizing Pareto Analysis in Time Management
Another technique which can be used to analyse your effective use of time is Pareto Analysis and this will help you to choose the most effective changes to make
What is Pareto Analysis?
It is a theory developed by an Italian economist Vilfredo Pareto who noted that approximately 80% of the wealth was owned by only 20% of the population. It later became known as the 80-20 rule and can be applied to problem-solving in any form and it is a useful tool in analyzing your effective use of time and increasing your productivity.
One of the first steps in learning to effectively utilize time is to identify repeated patterns in your daily schedule that may be interfering with
Keep a simple time log for a week in 30 min blocks, accounting for all the time you spentand a brief description of what you did.. At the end of the period total up the time spent under the various categories e.g. travelling to work, sleeping, answering calls, playing with kids
Analyse the data looking for blocks of time in your time log that could be interfering with your productivity e.g. surfing net, visiting forums – looked for repeated patterns during the week not just one-off occurrences
An example of this would be to identify only two 15 minute blocks of time in your normal day when you find that you are being the least productive. By changing the way you currently use these 2 small blocks of
time, theoretically you should be able to increase your productivity by up to 80 percent.
“from tiny acorns big oaks grow”
Better time management does not mean giving up all your free time, or all the time you currently spend relaxing or enjoying your life. Instead, it helps you
Set priorities for managing time, eliminate wasted time and gain more control over how you use this valuable resource.