Maximize Time to Maximize Money - Essay Sample

Introduction

There is a common phrase that goes by; "time is money." Ever wondered as to why this phrase was coined this way? The above saying was oriented on the importance of time management in the execution of various tasks. By ensuring that we utilized time in the most effective ways in our undertakings, then it is possible to ensure that we can avoid incurring any extra unrelated expenses that may come along as a result of poor time management (Patton, 2000).

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We all undertake various activities in our day to day lives that may be related to our fields of work practice. Most of these tasks or events that we take are referred to other functions that are executed by other people. As a result, there is a necessity for proper communication between the relevant stakeholders to ensure that the desired outcomes of a particular activity get met.

The Concept of Deadlines

Take, for example, and a group assignment allocates between 5 group members where each is required to handle a specific portion. Due to the different time schedules as well as varying degrees of commitment for the group members, the various members finish their respective parts of the tasks at different times. Assuming that this task was required at a particular time without informing the relevant stakeholders, it would be observed that some of the group members would finish the tasks before time while others would finish way after time. With this respect, the concept of deadlines is conceptualized.

Why Are Deadlines Important

Deadlines serve various purposes in our project goals implementations. Without deadlines, there is a wide array of events that could go wrong for given project activity. Some of the significant importance of observing and implementing periods include:

Coordination of Group or Personal Events

In most instances of work-related events or the learning environment, we may be charged with the execution of a particular task as a group. The most critical aspect in addressing a group work activity is the development of a work breakdown structure. This is essential for the delegation of tasks to various group members and in ensuring that each individual is aware of their requirements. Upon the development of a work break down structure and delegation of jobs, the next most crucial step is coming up with the deadlines for the submissions of the specific individual tasks.

In this setting, deadlines are essential in the sense that every individual is aware of the time allocated to them for their delivery on their respective tasks. The period, therefore, ensures that one can plan their time in the best way possible and thus deliver on what that is required of them on a timely basis.

Time-Saving

Procrastination is the thief of time. This is a statement whose truth is so profound that it is often difficult to refute this. Have you ever been in the position where you are required to deliver on a given assignment, but it is not due for a given while? Did you see the urgency to complete the given task and there was a significant time frame between the task allocation and completion time? In most such instances, one is usually prone to losing valuable time as a result of procrastination.

However, with the adherence to a deadline, it is possible for one to accurately organize their task execution plan that ensures that there is time saved and the avoidance of rush in the final minutes of the given delivery. Deadlines help in the concept of time-saving in that, by adhering to the given timespan, one can handle tasks accordingly and therefore ensure that there is a uniform time distribution framework that aids in the smooth and gradual task process completion.

To Ensure That the Target Goals of the Project Are Met

At the beginning of any given project activities, there are goals as well as milestones that are expected to be adhered to in ensuring that the project objectives are met. These pre-set goals are aimed at ensuring that there is a regular working schedule that facilitates a step by step process of project goals implementation. Deadlines are essential in this concept, given that they help in ensuring that every phase of the project goals is running as expected with the time duration at hand.

As a result, when working and adhering to a set-out deadline, it is possible to ensure that the project goals get implemented in the most effective ways. This way, the implementation process runs smoothly given that each step of the exercise is completed within the required time. The timely completion of project goals ensures effective management of the project as well as ensuring that the various stakeholders involved in the task goals are also impressed with the progress. As a result, it is possible to continue securing funding as well as other essentials necessary for the project completion,

Ensure That There Is a Gradual Approach to the Final Objectives

Deadlines are also essential in that they help the worker to organize their expected goals and therefore ensure that they are able to give enough time to every aspect of the project.

Challenges Associated With Lack of Deadlines

Another standard quote that has been commonly used concerning organized task execution is "failing to plan planning to fail." This is the case concerning the lack of deadlines or failure to observe these task execution plans. The absence of deadlines for the completion of a given activity is likely to result into procrastination which on the other hand leads to hurried and haphazard task executions that eventually leads to poor implementation of the task objectives (Moore, 2004).

The lack of deadlines has also been associated with increased difficulty in the management of the project goals. This is because, in a project setting where there is no observation of the various outlined timeframes, individuals may deliver their task sections at varying times, thereby affecting the result of the overall time management schedule. The lack of or failure to observe deadlines has also gotten linked to the increased probability of failure in the outlined project goals as there are no specific approaches towards the final goals.

Conclusion

Time management has been observed to not only make our lives easier but also enhance the quality of the various activities that we undertake. With proper working schedules, there is the development of a harmonic working spirit between employees of a particular organization which in turn leads to better delivery and an increase in productivity. On the other hand, lack of deadlines or failure to adhere to the outlines time schedules leads to conflict between workers, which gradually reduces productivity. To ensure that a given entity maintains a reputable operation, time management is a requirement that is of paramount importance. It is therefore essential to ensure that a defined path from the beginning to the end gets defined. How to come up with realistic deadline goals and measures to help in the implementation and adhering to the set-out deadlines is also essential. Setting out unrealistic deadlines is likely to result in time wastage and working at a fully stretched schedule which may not be suitable for productivity purposes.

References

Patton, M. A. (2000). The importance of being flexible with assignment deadlines. Higher Education in Europe, 25(3), 417-423.

Moore, D. A. (2004). The unexpected benefits of final deadlines in negotiation. Journal of Experimental Social Psychology, 40(1), 121-127.