Abstract: This study evaluates the cash flow policies and its effect on the completion time of projects in western Nigeria. It was observed that 27.4% of the total numbers of sixty-two projects considered were completed within the time frame, while 72.6% were yet to be completed on the agreed time frame. The 73.3% of the yet to be completed projects were due to cash flow problems, that is, lack of subsequent fund after the initial mobilization fees provided by the government for the projects. The other 11.1, 13.3 and 2.2% were delays due to the lack of mobilization fees, equipment breakdowns and poor weather conditions respectively. The major constraints to the timely completion of projects in the western states considered therefore, were due to cash flow problems.