Time management refers to developing processes and tools to increase efficiency and productivity. Time is a non-renewable resource that is lost forever once passed. Poor time management can lead students to make excuses for unfinished work like printer or parking issues. Good time management requires qualities like reliability, hard work, and punctuality. People realize the value of time differently depending on their circumstances, from a student failing a grade to a day laborer feeding their family. Proper time management tools include setting schedules, tracking leisure activities, using reminders, and being realistic in expectations. Overall, time is a valuable but limited resource that must be managed effectively through planning and prioritization.