"Time-bound" refers to setting a specific deadline or timeframe for achieving a goal. This concept is crucial in planning and project management, as it helps individuals and teams stay focused and motivated. By establishing a clear end date, such as December 31, 2023, people can prioritize their tasks and measure their progress effectively. For example, if someone wants to complete a fitness program, they might set a time-bound goal to finish it in three months. This approach not only creates a sense of urgency but also allows for better tracking of achievements, making it easier to celebrate milestones along the way.