The Shiva Sutra 'Udyamo Bhairava' denotes an instant upsurge in consciousness. He is indestructible, wears the garland of human skulls and carries the trident. He is Death of death being the vanquisher of death. He is blue-throated from swallowing the poison to save the world He is three-eyed with eternal supreme wisdom in his third eye. Kalabhairava is one of the eight Bharaiva fierce manifestations of Lord Shiva. Kalabhairava is usually depicted in a fierce form decorated with serpents and carrying a head, which according to the Puranas, was the fourth head of Lord Brahma which lord Shiva in his aspect as Kalabhairava cut off to teach him a lesson. The worship of Kala Bhairava is particularly important during the 60 years from this Chitrabhanu Year (mid April 2002) to the next Chitrabanu Year (mid April 2062). He can bestow good or favorable time on the seeker. The direct benefit would also be that you will miraculously be at the right place at the right time when opportunities come knocking. If we are mismanaging time and wasting it on frivolous pursuits it is necessary that we worship Lord Kala Bhairav to help us better utilize time towards a constructive end.
Wasting time is tantamount to insulting Lord Kaala Bhairav.
If we fritter away our time on useless pursuits and can not remember what we did then we are essentially offending Lord Kaala Bhairav. To be successful in life more or less boils down to being at the right place at the right time.