Start by learning that this thing called Parkinson's Law exist, and that time is the most important currency in our lives. Pulling all-nighters is an illusion of hard work and productivity.
Assess how much time you can dedicate a project down to the HOUR with regards to other obligations in life. You depend on how hard you want to go. 20 hours, 40 hours, YOU DECIDE how far and how fast you want to go
With these set amount of hours, budget them into deliverables: Research, styleframes, motion tests, production, etc WITH SPECIFIC QUANTITY OF DELIVERABLES
Do not be distraught by not missing the goals; you will certainly something done if you plan for it but never nothing
Ask for help if you get stuck
You check in with your supervisors / profs on what you have set to do, what you have done, where you will go next. Your teachers are your co-pilots in your design journey
You make something crappy? It's fine, it called experimenting and developing your design methodology and visual language
Move on, because you WILL do even better next time. All you need is just practice.
Matt Van Rys Yeah, I think it is important to begin the process of understanding your limits and how to push them early in your career. For example, in commercial projects you have two main limitations, time and money. In school projects, no money :(, but much time. Budgeting your time becomes a key manner of measuring what you can do in the project and what personal sacrifices you are willing to make. I see many students sacrifice their health (mental and physical) for greatness, but when you have a lifetime of creative work ahead, maybe playing the long-game is a better strategy for long-term creative growth and improvement. Perhaps picking and choosing where to push the envelope is a skill we should all be practicing?