To keep yourself from forgetting where you stand with each of your applications I recommend a Google Doc spreadsheet that you can populate as you go.

Please feel free to use this skeleton version of the spreadsheet I created as the basis for your own.

Special thanks to Lo for inspiring me to post this sheet.

As a recent MBA I often get asked about the business school application process.  This post provides my personal strategies for approaching the GMAT.

1. Find a copy of a reasonably current Princeton Review "Cracking the GMAT".  Your local library is likely to have one. Focus on the math review and the test strategies, not the sample problems.  Vital math topics to review include exponents, basic geometry, probability (memorize the permutation and combination formulas), factoring, and prime numbers.  The GMAT tests prime numbers frequently.
2. Visit GMAT Hacks and read as much as you can.  There are tons of wonderful articles. including one personal favorite that lays out this 'overlapping sets' formula:   Total = Group1 + Group2 - Both + Neither
3. Do as much of the 'official, real GMAT problems' book as you can.  As you go through the problems make sure to mark all them that you weren't sure about as well as all the ones that you missed... and re-do all of them.

Timing on this test is critical, and I had a hard time finishing the math section.  To paraphrase GMAT Hacks, on the actual test 'you must recognize that a problem you can't do quickly (i.e. 2 minutes or less) is the same thing as a problem you can't do at all.  Guess and move on.'   Consequently I made a rule for myself on the math section: if with 20 minutes to go I wasn't already at problem number 30 (of 37), I knew I had to rush in order to finish.

After I did all of this, I took the exam and fell just short of my goal.  I did a lot of studying in a tight time period of 6-8 weeks and allowed another 4-5 weeks for a re-take.  I worked heavily with a 'more official math problems book' as I geared up to re-take the test.  Additionally, I borrowed math books by the Manhattan Institute from a friend which were great last minute supplements, particularly with difficult problems, as preparation for my second attempt.

Good luck!