Fast tracking

From CEOpedia | Management online
Revision as of 21:22, 17 November 2023 by Sw (talk | contribs) (Text cleaning)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Fast tracking is an advanced technique for project management, usually applied in time of crisis in company. This method is used to achieve a shorter project duration. General idea of fast tracking is that tasks that has to be completed one by one, starts to be performed in parallel. "The best example of this balancing technique is beginning construction on a building before the design is complete." (E. Verzuh 2012, p. 245) Another example of fast tracking could be starting a project before we get all necessary information, predicting the most possible answer (A. A. Alhomadi, R. Dehghan,J.Y. Ruwanpura 2011, p. 1966).

When to use fast tracking

Firstly, you need to find all possible activities that could be worked on simultaneously, because this strategy can be performed only if the activities can be overlapped. An important topic, which is worth mentioning, is schedule compression. It is a form of mathematic analysis, which can be used to decrease duration of a project without changing the project scope. In other words, compression is shortening the project schedule to complete all the tasks much sooner than expected (K. Heldman, C.M. Baca, P. Jansen (2007), p. 289). Fast tracking is definitely worth considering as a method of schedule compression and it can be used:

  • When we have unrealistic deadline,
  • We did not get all the resources on time,
  • There was an unexpected issue during the project,
  • We need to bring the project back on track,
  • Due to circumstances beyond one's control,
  • We have business opportunity to get another project after finishing present task,
  • Client changes the date of delivering the project.

What are the virtues of fast tracking?

Considerably decrease duration of a project. It is a great advantage, no matter if you are individual or the project manager, to deliver and implement the project before the scheduled date. Every client will greet that with enthusiasm if he get his product much sooner than estimated.

Fast tracking does not increase costs. Fast tracking is the cheapest method of compression the project duration. After choosing this strategy we work on the same resources as in the beginning. We do not have to hire new employees, buy new equipment and create more space to work.

Bring the project back on track and on schedule. During developing our project we can meet several elements that may delay work. It cause the threat that project will not be finished on scheduled date. By using fast tracking technique we significantly decrease this threat and we assure that we are going in the right direction again and we will not miss the deadline.

Immediately release the project resources. Fast tracking allow us to allocate the project resources to work on several various tasks. It means, that we are able to developing multiple projects with the same resources and in the same time (K. Heldman, C.M. Baca, P. Jansen (2007), p. 291).

What are the dangers of fast tracking?

As mentioned before, fast tracking does not involve any additionally costs, but it leads to increase risk. Using this strategy is not without dangers. Main risks of fast tracking:

  • Unpredictable incident can cause the project to lose even more time,
  • Performing activities in parallel may lead to obligatory reworking or rearranging single parts of project,
  • Highly require focusing on the right activities to achieve maximum benefits of using this technique (K. Heldman, C.M. Baca, P. Jansen (2007), p. 289).

Summary

Undoubtedly, fast tracking is the first method that should be considered, if we need to shorten duration of developing project. This strategy is not expensive, do not need any additionally resources and may help to reach delivering project on scheduled date. However, we put on high risk choosing this technique. Fast tracking requires great knowledge of project in general, its goals and priorities, good communication and coordination.

Examples of Fast tracking

  • Starting a project before getting all the necessary information and predicting the most likely answer: This example of fast tracking can be seen in situations where a company is in a rush to start a project and does not have time to wait for all the information required to start it. In this case, the company can make an educated guess on what the most likely outcome of the project will be and start the project with that assumption in mind.
  • Starting construction on a building before the design is complete: This example of fast tracking can be seen in the construction industry, where projects are often rushed in order to meet deadlines. In this case, the construction company may start the building before the design is completely finished in order to speed up the process.
  • Allocating resources to multiple projects at once: This example of fast tracking is used when a company has limited resources and needs to get multiple projects done at the same time. In this case, the company can allocate its resources to multiple projects at once in order to speed up the process and get the projects done quicker.

Advantages of Fast tracking

Fast tracking is an effective project management technique that can be used to shorten project duration when needed. There are several advantages to employing this technique:

  • The most obvious advantage of fast-tracking is the shorter completion time. By overlapping activities that would normally be done sequentially, a project can be completed faster. This can be especially useful in a situation where a project needs to be completed quickly.
  • Fast tracking a project also allows for a more efficient use of resources. By combining activities, it is possible to reduce the amount of labor and materials needed for the project, resulting in cost savings.
  • Fast tracking also encourages innovation and creativity. By forcing teams to think differently about how to complete a project, it can lead to new solutions and ideas that can improve the project's results.
  • Finally, fast tracking can provide a sense of urgency to a project. By working on multiple tasks in parallel, teams can be motivated to work faster and more efficiently.

In conclusion, fast tracking can be a beneficial technique in project management, when used correctly. It can provide a shorter completion time, reduce costs, and motivate teams to work more efficiently.

Limitations of Fast tracking

Fast tracking is an effective way to expedite a project, however it is not without its disadvantages. The following are some of the main limitations of fast tracking:

  • Fast tracking increases the risk of errors due to the rushed nature of the project. Since tasks are being done in parallel, there is a chance that mistakes can be made, or that one task can have an unexpected negative effect on another.
  • Fast tracking increases the costs of the project since additional resources and manpower are often required to complete the project in a shorter time frame.
  • Fast tracking can also lead to an increased amount of stress and fatigue on the project team members, leading to a decrease in morale and potentially in the quality of the project.
  • Fast tracking can also lead to a lack of communication among team members and stakeholders, leading to a decrease in collaboration and potentially in the overall quality of the project.

Overall, fast tracking is a powerful tool for expediting projects, however it should be used with caution and consideration of the potential limitations.


Fast tracking — recommended articles
KISS rule — Line balancing — Project lifecycle — Lean software development — 5 whys — Job simplification — Agile project management methodology — Simultaneous engineering — Workplace design

References

Author: Jakub Postawa

Retrieved from "https://ceopedia.org/index.php?title=Fast_tracking&oldid=92266"