The document discusses time management, defining it as the control an individual can exercise over events. It emphasizes using time wisely by investing it rather than spending it. Time management is necessary to utilize available time optimally to achieve goals and reduce stress. It involves taking time to work, think, play, read, love, serve, and laugh. The process of time management starts with costing your time, making activity logs, setting goals and plans, prioritizing tasks, and scheduling work.