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Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Time Management

Time Management
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Author(s): Fabrizio Fioravanti (Exitech, Italy)
Copyright: 2006
Pages: 10
Source title: Skills for Managing Rapidly Changing IT Projects
Source Author(s)/Editor(s): Fabrizio Fioravanti
DOI: 10.4018/978-1-59140-757-7.ch001

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Abstract

Time management is one of the most problematic issues to be addressed and to be understood well and transferred to the people belonging to the team. In order to understand the meaning of time management, it is necessary to deal with the concept of time and then with the concept of the unit cost of your time for the company. During each year, you usually work (without considering extra work) between 1,600 and 1,800 hours, and then, if you divide your gross annual pay (say $50,000), you obtain an hourly cost of your time between $27 and $31. Each hour you lose during your work time costs that amount of money to your company. Usually, if you are a team manager, for each hour you lose, your team in the complex loses about five times as much, and then a larger amount of money is thrown away for your company. In order to manage your time and the time of your team in the best way, it is necessary to approach the problem basing your efforts on some values, as suggested in the following.

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