project on management of cash

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What Is Project Management?

A project is an undertaking by one or more people to develop and create a service, product or goal. Project management is the process of overseeing, organizing and guiding an entire project from start to finish. Here are more facts about project management.

Project Management Helps Teams Work Together

A competent project manager pulls together all of the people involved in a project to ensure that tasks are done cooperatively and with regard to the tasks’ effects on other people’s project outcomes. For example, when a new building is being constructed, a project manager will schedule electrical wiring installation before scheduling installation of light fixtures and electrical equipment. If the lighting crew is scheduled before the structure is wired, the lighting crew wastes time arriving on site only to find they can’t perform their work.

Project managers also schedule meetings between various teams to foster cooperation and increased communication about projects. In the example above, the project manager may schedule a meeting during which the electricians explain the wiring, wall-switch operation and receptacle layout to the lighting contractors. Both teams communicate their needs and concerns to help the project move forward without delays.

Project Management Performs Vital Processes

According to the Project Management Institute, five main management processes are used to see a project through to completion. The five processes are:

Monitoring and controlling

At the initiating phase, key individuals share ideas about a proposed project. In the planning stages, the project is defined and schedules are created to complete the project in a defined time frame. Execution of the project requires organizing and scheduling supplies, materials and workers to complete the project. Monitoring and controlling in project management is the process of inspecting work, crunching budget numbers and keeping track of deadlines. Closing the project involves site cleanup, turning over the project to the owner, collecting payments and scheduling meetings to discuss the lessons learned from a project.

Project Management Focuses on Key Areas of Knowledge

Project management draws on a diverse set of skills. While project managers don’t need to have in-depth knowledge of all key skill areas, they do need to have a basic understanding of the limitations and concerns of each knowledge area. Project managers need to view a project in its entirety and understand the relationships between costs, quality, supply procurement, human resources, communication, risk management and stakeholder management.

Project Management Requires Document Management

A competent project manager organizes all documentation including invoices, e-mails, bids, proposals, permits, and project changes. The project manager ensures documents are submitted on time and to the correct businesses, agencies or individuals. The project manager is also responsible for secure storage of all project documents.

Project Management Helps Meet Goals

Project management is a relatively new field of practice and study but has become a proven method to meet lofty goals and bring diverse groups of people together for a common purpose.

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A Project on Cash management on XYZ Company (MBA Finance)

Project Cost: Rs 2000 (Project Report) Rs. 2500 (Synopsis + Project)

Can Be used in: FINANCE

Project Report Pages: 60-70 Pages (Soft copy word Format)

Delivery time: Within 12 hours for readymade project and 3 days for new project

Short Description: A Project on Cash management on XYZ Company (MBA Finance)

Description: Please refer the demo of Sample Project. Content of the project is based on the topic. Each project has different content. We are not able to crate a sample project for all topics. This sample is for Finance Project.

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Cash Management System

An overview of how the transactions are processed in Dabur India Ltd. and application of SAP in Cash management system. Cash Management comprises of a series of activities aimed at efficiently handling the inflow and outflow of cash. This mainly involves diverting cash from where it is to where it is needed. In other words, cash management is the optimization of cash flows, balances and investments. Cash‟ in this context, may refer either to cash in the form of currency, or to other equivalents such as cheques, drafts, deposits, among others. While organizations may hold other assets which can potentially be converted to cash, cash management essentially deals with the management of liquid cash and near-cash assets such as marketable securities and time deposits, which can be readily converted to cash.

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iaeme iaeme

Very recently Reserve Bank of India has instructed all banks to implement the cheque Truncation system across the country. In this context, we made an attempt to study how CTS benefits to customers. With the introduction of imaging and truncation, the physical movement of instruments is stopped. The electronic movement of images of cheques speeds up the process of settlement and can facilitate reduction in the clearing cycles as well. Moreover, there is no fear of loss of instruments in transit.

Numan Hasan

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Role of cash management in the success of a business, amount: $25.00 |, format: ms word |, 1-5 chapters |.

CHAPTER ONE INTRODUCTION 1.1 Background to the Study Cash management is the collection, concentration, and disbursement of cash. With the aim of managing the cash balances of a firm so as to maximize the availability of cash not invested in fixed assets or inventories in such a manner as to avoid the risk of insolvency. Cash management involves the monitoring of the firm’s level of liquidity, its management of cash balances, and its short-term investment strategies. Cash management constitute a fundamental function of the firms management so as to ensure all financial obligations are met as at when due. If a firm fails to pay its obligation when it is due as a result of lack of cash, the firm is insolvent. Insolvency then leads the firm to bankruptcy. Consequently it is important the firm manage their cash well. The need for efficient cash management is to prevent bankruptcy, improves the profitability and mitigate the firms risk. Cash management is particularly important as cash flow problems could arise even in the midst of the firm having many clients, and offering superior products with superior image. Firms with cash flow problems do not have a margin of safety to meet unplanned emergencies, fund innovations and expansion and hire and retain staffs. Cash is therefore the lifeblood of the business. Many firms make the mistake of spending all of their funds as soon as it is received for the obligations of the firm without any leverage for the future Successful cash management, therefore requires making realistic projections, monitoring ,collections and disbursements of cash , adopt effective billing and collection measures, and adhere to budgetary restrictions.

1.2 Statement of the Problem The fundamental problem confronting many organizations is the issue of cash to meet its obligations and stay afloat in business profitably. This is the desire of all organization but the real situation shows that majority of firms are only managing to meet its obligations within tight available cash flow. Cash management is the collection, concentration, and disbursement of cash. With the aim of managing the cash balances of a firm so as to maximize the availability of cash not invested in fixed assets or inventories in such a manner as to avoid the risk of insolvency. Cash management involves the monitoring of the firm’s level of liquidity, its management of cash balances, and its short-term investment strategies. Cash management constitute a fundamental function of the firms management so as to ensure all financial obligations are met as at when due. If a firm fails to pay its obligation when it is due as a result of lack of cash, the firm is insolvent. Insolvency then leads the firm to bankruptcy. Consequently it is important the firm manage their cash well. The need for efficient cash management is to prevent bankruptcy, improves the profitability and mitigate the firms risk. Therefore, the problem confronting the research is to determine the the role of cash management in the success of a business (A Study of ECO Bank).

1.3 Objectives of the Study 1. To determine the roles of cash management in the success of a business. 2. To examine how effective cash management system is in Eco Bank Nigeria PLC. 3. To examine the challenges of effective cash management in Eco Bank Nigeria PLC.

1.4 Research Questions 1. what are the roles of cash management in the success of a business? 2. How effective is the cash management system in Eco Bank Nigeria PLC? 3. What are the challenges to effective cash management in Eco Bank Nigeria PLC?

1.5 Research Hypothesis Ho: The role of cash management for the attainment of business success in ecobank is not effective. Hi: The role of cash management for the attainment of business success in ecobank is effective.

1.6 Scope of the Study The study focuses on the appraisal of the role of cash management in the success of a business a case study of Ecobank.

1.7 Limitations of the Study The study was confronted by some constraint including logistic and geographical factor.

1.8 Definition of Terms CASH MANAGEMENT DEFINED Cash management is a broad term that refers to the collection, concentration, and disbursement of cash. The goal is to manage the cash balances of an enterprise in such a way as to maximize the availability of cash not invested in fixed assets or inventories and to do so in such a way as to avoid the risk of insolvency. Factors monitored as a part of cash management include a company’s level of liquidity, its management of cash balances, and its short term investment strategies. LIQUIDITY DEFINED A measure of the extent to which a person or organization has cash to meet immediate and short-term obligations, or assets that can be quickly converted to do this. 2. Accounting: The ability of current assets to meet current liabilities. 3. Investing: The ability to quickly convert an investment portfolio to cash with little or no loss in value. SOLVENCY DEFINED Solvency is the ability of a company to meet its long-term financial obligations. Solvency is essential to staying in business as it asserts a company’s ability to continue operations into the foreseeable future. While a company also needs liquidity to thrive, liquidity should not be confused with solvency. A company that is insolvent must often enter bankruptcy.

This material content is developed to serve as a GUIDE for students to conduct academic research

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COMMENTS

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Project management is important because it helps companies get the most organization and production for their money. They are in charge of managing personnel to get a job done in a timely manner as inexpensively as possible.
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