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jimrandomh comments on A "Failure to Evaluate Return-on-Time" Fallacy - Less Wrong
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Why not just call it "self-improvement"? The phrase had more specific connotations in the linked post (self-improvement as opposed to self-abasement), but those don't apply here, and in general avoiding needless cryptic jargon is good PR and anti-cultishness.
That does seem to make sense, but for some reason I can't quite place, the phrase "self-improvement project" suggests long-duration projects to me, while the concept I'm driving at is focused on one-time acts of analysis and precedent setting. I can't think of a good way to express this distinction in a catchy English phrase.
"Life refactoring" would work for people with a programming background.
edit: Although the pedant in me says it is a mix of optimisation and refactoring. Refactoring has the right connotations of single instance changes and less confusion from other sources than optimisation.
Best suggested phrase so far. And searching seems to indicate that it's unused.
Life hacking on the other hand is a widely used phrase with a similar meaning.