Humankind has conquered many pinnacles, many impossible tasks but is limited by the time we have on this planet which is the ultimate measuring rod for what we have done during each of our lifetime. A few may have achieved the best out of their time allotted to them on earth but the majority of us do not know how to manage the time optimally, so as to be successful and obtain our goal. Setting insurmountable goals is not enough but one should learn the art of getting things done in order to do things the right way. Effective utilization of time is essential. It can be said with authority that the formula for success is derived from time management in the lives of successful people.

Time management involves setting goals; planning the ways and means for achieving those goals; allocating time for each goal; organizing one's life in order to make it compatible to that goal; goals may be short term or long term depending upon one's career or personal life. A long-term goal for a middleclass person who is a clerk by profession may be to buy a computer for his son. What has time management got to do with it? It is an obvious fact that in today's world the clerk will have to plan for the expenses on his son even before his son is born. The goal which is long term for the clerk might be short term for a rich man. In order to achieve his goal he has to save some money every month so that at the end of the year he can buy it for his son.

A student who is competing for the GMAT exams will have to be extra cautious about managing time, setting targets, analyzing the time spent, monitoring the time spent, scheduling the tasks before him and prioritizing them in order to achieve his targets. Only then will he be successful. Inculcating the habit of time management at a very young age will stand a long way in the molding of a child into useful human being. As time advances, the home and the school-college environment play a major role on this aspect.

It can be regarded as a universal fact that fate or what time holds for each of us is dependent upon how efficiently we utilize our present time, how well we learn from our past and the way we plan for the future.