Time Management! How would you manage it?

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Let me give a real time example which was happened in life. When I was doing my Under Graduate we were assigned a project, my staff had given a deadline to finish the project. The project was in a group and I was the project leader. Every one in the group contributed their part of the work. As days went on some of the members in the group were not doing their work properly. So I got tensed that we wont be submit our project in time. I lost my hope and some of them were threatening and at last I used my smart work how to tackle the problem and I managed it and submitted the project in time. Staffs and my friends appreciated me. You can share your incidents which happened to you...Thanks!