Time management is one of the most important factors that one should carefully monitor to achieve good band score in IELTS. Each Module of the test is timed very strictly. Examiners give no scope for any sort of deviation in this regard. Hence it is very import that one should carefully monitor his/her own progress so as to not to leave any portion of the test unfinished or untouched. For this, one should always keep an eye on the time to avoid future disappointments.

IELTS Listening: This module itself is a self-timed one. The recording will be played for about 30 minutes without any pauses. You must carefully listen to the recording and answer the questions on the booklet while listening. Later, you will be given 10 minutes to transfer you answers to the answer sheet. This will be more than sufficient to accomplish the task.
One area where candidates go wrong when attempting this task is that they try to answer on the answer sheet directly or answer both on the booklet and on the answer sheet. This will lead to confusion. Always remember that you will be given another 10 minutes of time to transfer you answers on to the answer sheet, make right use of it.
Further, if you are not sure about the answer to a question, simply make a guess work and proceed with the flow of the recording. Later, when you are given time to transfer you answers, you can get back to the question and think about it and make a better choice.
Remember never to get stuck up at a single question. You cannot concentrate on rest of the listening and hence will be unable to answer rest of the questions.

IELTS Reading: Reading Module contains three sections which you have to complete in 60 minutes. Time management in this module is more important because if you spend too much time on the first one or two sections, you will be unable to complete (or even touch) the last section/s. This will greatly affect you IELTS score.
Though the reading module is tough, one can overcome the difficulties in it with good practice. When practicing, spend no more than 20 minutes on each section. Do not bother even if you don’t perform well, but stick to the time. Once you get used to it, you can work faster and perform better. In the context, if you are able to finish within the specified time, you can get back to the questions that you are not sure and work on them.

IELTS Writing: Time management is crucial even for this module. You should spend no more than 20 minutes when attempting the task 1, only then you will be left with ample time for task 2. Secondly, from evaluation point of view, task 2 outweighs task 1. Hence, one has to make sure that he/she is left with sufficient time for task 2. Always see that you have at least 40 of time to attempt task 2.
In general, candidates think that the time allotted to writing module is insufficient. They want to spend more time on both the tasks. But one has to get out of this idea. Give yourself as many practice tests as possible with proper time management. Do as much as you can on the task 1 within 20 minutes and leave the rest of the time for the task 2. This will greatly improve your performance.

IELTS Speaking: This is the only module where you need not worry much on the time management. But when the examiner asks you to speak on a specific topic for a specified time period, say one or two minutes, you have to do it. It may not be practically possible to look at the time when speaking, but make sure that you speak enough. Failing to do, you will be penalized. If you speak more, the examiner may stop you. You will not be penalized for speaking more.