Good time management starts with figuring out what tasks you need to accomplish, and how long each will take. The problem is, human beings are generally pretty lousy when it comes to estimating the time they will need to complete any task. Psychologists refer to this as the planning fallacy, and it has the very real potential to screw up our plans and keep us from reaching our goals.
New research by Mario Weick and Ana Guinote shows that, somewhat ironically, people in positions of power are particularly poor planners. That's because feeling powerful tends to focus us on getting what we want, ignoring the potential obstacles that stand in our way. The future plans of powerful people often involve "best-case scenarios," which lead to far shorter time estimates than more realistic plans that take into account what might go wrong.
The good news is, you can learn to more accurately predict how long something will take and become a better planner, if you stop and consider potential obstacles, along with two other factors: your own past experiences (i.e., how long did it take last time?), and all the steps or subcomponents that make up the task (i.e., factoring in the time you'll need for each part.)
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