I earlier discussed time budgeting and it’s uses and practicalities. I have been time budgeting now for several years and it has been a very effective in my personal life. There are countless benefits to making a time budget for yourself and your personal life, that it is worth the time investment to make one. This is why it is valuable in organizations as well. A time budget can fit into just about any organization whether it is a workplace, sports team, volunteer or religious organization. Just like the personal time budget, it can be for specific activities or any and all activities, and for whatever specific periods of time that makes sense. Here are five of what is countless amounts of benefits for time budgets.
- Time Budgeting makes individual team members more productive. This is especially effective in training and planning with new employees. This gives a clear guideline on how long tasks should take and also can be adjusted accordingly as the tasks and position grow and develop
- Time Budgeting can give each team member a guideline. It is easier to see how any given team member is dong in comparison to their or the company plan.
- Time Budgeting can measure performance. In any situation where the team member/employee’s performance needs to be measured based on the time budget vs actual time spent this can be valuable. This can be helpful in providing incentives for goal setting for a certain task whether to do more of or to limit.
- Time Budgeting works great in conjunction with a schedule. Time Budgeting can be done along with a schedule. If there is a schedule already being made than it is easy to couple that with the time budget aspect, especially using the right program. This can even done in Excel and there are a few good Excel templates that can be shared for this.
- Time Budgeting is flexible. The best way to make time budgeting work is having it tailored to the right person the right way. With the amount of flexibility involved, there are several different ways to make an effective time budget and it comes down to the one that you need at the time.
Time Budgeting has been helpful in my personal life as well as on my in my job. It is something that is great to start and then build upon and improve as you go on. My time budgets have evolved and changed over the time and so will yours.