Cash flow and milestone payment
Rasmusbjerg (Talk | contribs) (→Introduction) |
Rasmusbjerg (Talk | contribs) (→Abstract) |
||
| (One intermediate revision by one user not shown) | |||
| Line 2: | Line 2: | ||
==Introduction== | ==Introduction== | ||
This article will focus on: | This article will focus on: | ||
| + | |||
- Cash flow | - Cash flow | ||
| + | |||
- milestone payment | - milestone payment | ||
| + | |||
- implementing the two together, ind cost management | - implementing the two together, ind cost management | ||
| + | |||
- what advantages this have | - what advantages this have | ||
| Line 14: | Line 18: | ||
- Use the cash flow tool, to get an idea of how the money is flowing in the business, and to see the payments vs. the income | - Use the cash flow tool, to get an idea of how the money is flowing in the business, and to see the payments vs. the income | ||
| + | |||
- Use milestone payment to set up a program to award the hired freelances, if they are doing their job according to the managers timeline and quality, or to give a group of freelancers a common goal, and give them a “team” feeling to get them to work together the best way possible. | - Use milestone payment to set up a program to award the hired freelances, if they are doing their job according to the managers timeline and quality, or to give a group of freelancers a common goal, and give them a “team” feeling to get them to work together the best way possible. | ||
Latest revision as of 16:30, 15 February 2019
[edit] Introduction
This article will focus on:
- Cash flow
- milestone payment
- implementing the two together, ind cost management
- what advantages this have
[edit] Abstract
This article will focus on how Cash flow and milestone payment can help a manager in either program, project or portfolio to see the costs, income vs outcome, of the operation, and to help the manager to motivate the works to reach a common goal by offering the milestone payments.
The two fundamental ideas of cash flow and milestone payments are to get an overview of the following:
- Use the cash flow tool, to get an idea of how the money is flowing in the business, and to see the payments vs. the income
- Use milestone payment to set up a program to award the hired freelances, if they are doing their job according to the managers timeline and quality, or to give a group of freelancers a common goal, and give them a “team” feeling to get them to work together the best way possible.
The goal of the two combined, are to use milestone payments and cash flow in a symbiosis to get the milestones incorporated in the cash flow, to get an understanding of the payments going in/out of the company/project etc. according to the time schedule, as a tool of planning. Furthermore, to focus on how the two can be used on a daily/weekly base, to get the most out of the models.
To help understand these models, the “Cost Management” will be used as a management style, because it relates to the idea of cash flow. Because of this relation, it also relates to milestone payment, because it is also a tool to control the money coming out in form of salaries and bonuses, according to the agreed contracts between the manager/company and the hired freelancers.
