Best Self time managment tool

The simplest of all the self management tools and also the best of all of tips that I have practised and stuck on has been a plain paper and a pencil. There are no constraints involved, I can practically do this anywhere and anytime. And best of all that it can be easily folded and saved nicely in the wallet and then taken out again when needed.
Also I have realised that listing the tasks/activities are more important than priortization. Once the tasks have been listed and the most important ones identified, then only they should be compared against the time frame.
The most important ones take priorty and the rest can be categorised depending upon the time frame.
Once the most important ones or "must do" have been identified; I like to idenitfy the ones that can be delegated and eliminated. The handfuls that are left can now be adjusted to the availability of time.
I start my day with a fresh peice of paper and carry over the "left ones". With just a piece of paper and a simple pen, I have managed my all tasks very nicely and effeciently.
But most of the times I have really found myself struggling with the tasks that have been delegated.How do I keep a track of the activites that have been assigned to whom and with what deadline ? I have struggled hard to keep track of who is at what stage of that activity. My pen and paper failed me here. I needed a "time magician" - timemerlin. It was simply designed to get the day end status reports and timesheets.