What do you prefer as a manager, time management or minimize cost?

Both .....
are important for manager .

My first priority will be Time managemant then minimize cost because when manager will manage the time requirments every work will be done in time and though it wil also effect and manage to minimize the cost .
Time management n cost minimization both r interrelated.

As a manager and as a person Time management always seem to be of much worthiness than anything else.
Actually I look at it as our only mean of time traveling! The more time you save, the more time you have to spend, the richer you are.
there's another mathmatical way of looking at it:In a capitlaist world were everything revolves around money, money is your mean to buy "products", to buy product you need to have money, to buy money you need to spend time! So time is the essence, the intial state of your life! I vote for time management over cost minimization! (90% of the times)

The time administration tasks factors well helps the company to implement its business effectively and fast and optimal use of existing human resources.
Either reduce the cost, it is also important but are not detract from the quality of the product provided

minimize cost

As a manager you need to look at both aspects.
If you lacking at once and are good at the other you are not an effective manager.

Time management because if the time has be managed cost and price will be also effected  

Here are my thoughts: The priority on either time or the budget (cost) will be given based on how much of Time/Budget (these are constraints) is available.
If it's a project with enough budget and tight deadlines, Time management is more important and vice ersa.
If both Time and Budget are limited, then we will have to sacrifice on the Quality.
there is a third constraint in project management, which is Scope. 
These three constraints forms Project Management Triangle; Time (Schedule), Cost (Budget) and Scope.
One side of the triangle cannot be changed without affecting the other. 
If we lack in any of these3 constraints, the Quality of the outcome/end product will suffer.
 

Both are essential for a manager; you just can't ignore any one of them.

Both are important for manager

As a manage you should have to give more priorty  to time management than minimizing cost ,although both are important aspects for a manager but in my opinion priorty of time management is higher than the other because we all know that TIME IS MONET :)