As a principal engineer, setting and prioritizing goals autonomously is crucial to effectively manage time. Intercom's approach involves setting quarterly goals, breaking them down into cycle goals, and sharing progress with the team and manager. The goal-setting process involves considering business and product strategy needs, team needs, engineering org needs, and personal goals. When prioritizing work, risks associated with each input are identified, and priorities are aligned with personal goals. Nurturing other engineers by delegating impactful work is also essential. Writing up a first draft of goals using a spreadsheet or document, sharing it with relevant stakeholders, setting expectations, and revising as needed are key steps in the process. This method of planning has numerous benefits, including increased confidence to reschedule less urgent work, easier saying no to less important tasks, and a clear guide for self-assessments and performance reviews.