Here's the best way IMO and saves time in the morning. The night before, bring your water to a boil and add oats. Stir untill back on the boil, then cover and turn off heat heat. No need to refrigerate, it's pretty sterile in there.
In the morning, simply bring back on the heat and stir for about 5 minutes. You can add in any sides at this point like dried fruit or nuts. IMO, this technique is the best for getting nutty-chewy flavor & texture, and doesn't result ing gloppy consistancy you get from the long cook.