In your mind, what is the most effective time management technique for setting priorities?

I using the follwing way and not sure wheather you call it technique for not , but here is my way for setting priorities.

once you have determined your major goals or objectives, You place one of those letters or numbers in the margin before each of the tasks on your list before you begin.

e.g. H, M, L, N    or  A, B, C, D, E or 1,2,3,4,5  ...  what ever you want, you can define your own proirity criteria , where for example H, A or 1 stands for “Very important or High priority and so on

Good time management means identifying what's most important.

1. Don't create impossible situations.
2. Define priorities.
3. Avoid distractions.

• Make time your friend, not your enemy.
• Use time to create success, not failure.
• Identify your first priority classes and do whatever it takes to succeed.
• Usually plan on two hours studying for every one hour of class.
• Drop2nd priority classes or reduce work hours if necessary.

• Weekly List #1 - The Weekly Calendar.Create a weekly calendar. Make it your basic time budgeting guide. List your courses, work, study time, recreation, meals, TV, relaxation, etc. Plan to study1st priority classes when you work best. Be flexible, adapt your schedule to changing needs. Keep your schedule handy and refer to it often. If it doesn't work, change it.
• Daily List #2 - The Daily "Things to Do."Write down all the things (not on your calendar) that you want to do today . Note homework due or tests to take or subjects you want to emphasize. include shopping, personal calls, etc. This list is a reminder. Use it to set priorities and to reduce decision-making and worry. If time is tight, move items to your long-term list. Rewrite this list each morning. Use visualization to help you focus on what to do.
• Monthly List #3 - Goals and Other Things.This can be one or two lists, a weekly list and/or a monthly list. Put down your goals and things you have to do. What do you want to accomplish over the next month? What do you need to buy? Use this list to keep track of all your commitments. If you're worried about something, put it on this list. The purpose of this list is to develop long-term goals and to free your mind to concentrate on today.

Don't work when frustrated or angry; put feelings on a list and calm down. Don't worry or feel guilty; put problems on a list, unwind and plan for today. Don't look back and regret past actions; put them on a list, relax and look ahead. Don't get sick and blow your schedule; think positive, eat, sleep and exercise.

Do you get sidetracked by TV, telephone, friends, sports, boredom, daydreaming? Do you procrastinate? The best way to not do something is to avoid it. Find a place to study where there is no TV or telephone. Try a library or study hall.

Preview and review. Before lecture, preview the book. After lecture, review your notes. When you have three spare minutes, review your summary sheets.

Here's my point of view for that question Sir Rabat,  actually sir it depends if how the person manage their priorities,  coz there is always a schedule to that so called TIME and also depends on how to deal with all the priorities you're dealing with. 

Sometimes we have to asked ourselves first why and what were going to do to manage where to start making a effective time and think about the efficient techniques so that we can settle or setup our first and foremost PRIORITIES. Thank you for another  challenging question that's really helps me a lot to see some things that I have to acquire and move along towards to my journey of searching for a good and efficiently job for me.  Have a nice day sir.

do the most important80% tasks in20% of time.

sort the most important tasks and give them priority,don't waste time on irrelevant work assignments.

The best method for setting priorities on your list, once you have determined your major goals or objectives, is the A-B-C-D-E method. You place one of those letters in the margin before each of the tasks on your list before you begin.

“A” stands for “very important;” something you must do. There can be serious negative consequences if you don’t do it.

“B” stands for “important;” something you should do. This is not as important as your ‘A’ tasks. There are only minor negative consequences if it is not completed.

“C” stands for things that are “nice to do;” but which are not as important as ‘A’ or ‘B,’ tasks. There are no negative consequences for not completing it.

“D” stands for “delegate.” You can assign this task to someone else who can do the job instead of you.

“E” stands for “eliminate, whenever possible.” You should eliminate every single activity you possibly can, to free up your time.

When you use the A-B-C-D-E method, you can very easily sort out what is important and unimportant. This then will focus your time and attention on those items on your list that are most essential for you to do.

with the PERT method

Program

Evaluation and

Review

Techniques

In french language

Pour

En finir avec les 

Retards

Traditionnels

The best  technique is forget the 'snooze' button and get out of bed on time. If you get up late you will be playing catch-up all day.

the best method is by seting priorities in three groups:

daily  

weekly

monthly

I always look for the sample and accurate way , by make (( To Do List )) in order to know first whats need to be finished , then you can work on it .

I'm still using the good old Priority Matrix.

http://en.wikipedia.org/wiki/Priority_Matrix

I agree with Clodelio, priority matrix is a time tested and effective method for prioritizing your tasks.