What is Fast Track technique?
Fast-tracking in project management is a technique where activities are performed in parallel, instead of being carried out sequentially using the original schedule. Simply put, fast-tracking a project means different tasks are worked on simultaneously, instead of waiting for each task to be completed separately.
How do I get a fast track schedule?
- Determine Your “Fast Tracking” Goals and Capabilities.
- Examine the Project Schedule to Identify Dependencies.
- Find “Fast Track” Opportunities in the Project Timeline.
- Identify all the Viable Alternatives to Make Schedule Adjustments.
- Make Informed Decisions (Based on Identified Alternatives)
When should I use fast track?
The fast track to a particular goal, especially in politics or in your career, is the quickest route to achieving it. He was told that, at 28, he was too old for fast-track promotion. To fast track something means to make it happen or progress faster or earlier than normal.
What does fast tracking require?
Fast tracking is an advanced project management technique. To be able to apply fast tracking, you need to identify all possible opportunities on the critical path that has the potential to be performed in parallel. This means identifying specific critical path tasks to be performed simultaneously.
Why is fast tracking risky?
Although fast tracking may not result in an increase in the cost, it leads to an increase in the risk, because activities now being performed in parallel may lead to needing to rework or rearrange the project. And, reworking the project can cause the project to lose even more time.
Can I use FasTrak without my transponder?
Yes. FasTrak drivers must have a transponder mounted to their vehicle’s windshield. State law requires a transponder to be in the vehicle or valid license plates properly mounted to the vehicle.
What are the benefits of fast tracking?
Fast Tracking Advantages
- Early Project Delivery. It’s a badge of honor for you to implement your project earlier than originally expected.
- Bringing Project Back on Schedule.
- Free Up Project Resources Early.
- Lack of Critical Path Knowledge.
- Risk of Rework.
How do you crash a schedule?
- Step 1: Analyze the critical path.
- Step 2: Identify all tasks that can be shortened with additional resources.
- Step 3: Calculate for each task: trade-off, gain, time reduction.
- Step 4: Choose the least costly approach.
- Step 5: Provide a crashing budget and updated project baselines to the sponsor.
What are the risks of fast tracking a project?
The study shows that inaccurate cost estimating and cost overrun risk liability, liability for design errors and omissions, delay damages, change orders, construction rework and modifications, as well as risk liability for overlooked work are among the most common reasons for disputes in fast-tracking.