Need strategic study advice - Breaking barriers

That's really a two part problem.

The main key with approach on problems is two fold:
1. Sold foundation in math concepts
2. General problem solving skills

#1 is strictly applied to the GMAT/other situations when you need specific math skills (compounding, parts/whole, etc)
#2 is a general skill set that helps you break down problems (used in everyday life).

#1 Helps you answer the problem correctly. #2 Helps you do so in a timely manner.

If you're having trouble keeping within the 2 mins, then you need to figure out why it's take you too long. Something is wrong with your initial analysis of the problem. One problem I would always run into is I would try to solve a problem by the "brute force" method. This means solving the problem in its entirety as opposed to simply answering the question at hand. On the GMAT, you don't always have to completely solve the unknown in the equation, just simply answer the question and move on.

Thanks for your replies, mohater was dead on.

I took the extra-curricular route and utilized MGMAT's FoM resource. It helped pinpoint a weakness thats definitely detrimental to progress (extracting accurate equations from word problems). Looks like 'c' will need some fine-tuning also.