When it comes to managing the project schedule, fast tracking
is an established technique, used to shorten the time it would
otherwise take to complete a given project.  In the simplest sense, a fast tracked
project schedule necessitates “doing
many things at once”.  This article examines all the risks and
benefits,
showing you how to make the most out of every “fast tracking”
opportunity. Read on for more.

“Same Project, Shorter Schedule”

That sounds so appealing,
but it’s not really that simple, and it’s certainly not without
risk.  Fast tracking of the project schedule is appropriate and
even essential under a number of key conditions and circumstances.  But, in the real world, fast
tracking is a nuanced process.  As a schedule is fast tracked, previously
sequential tasks (one finishes,
the next begins) are re-arranged to allow for concurrent execution (when
dependencies allow), thereby shortening the overall project timeline. 
This concept is illustrated in the simple example below:

Fast Tracking Risks and Rewards

There is no doubt that the fast tracked schedule is harder to manage (in light of all the
concurrent activity).  And, fast tracked schedules may
also experience
problems of greater intensity.  In addition, if concurrent work is
to be properly executed, it must be carried out without sacrificing
quality, scope and budget.  In other words, fast tracked scheduling
is a powerful, albeit risky, tool that must be used carefully and
with discretion.  Decision making begins with one key question
—  when will “fast tracking” be most appropriate? 
The list below summarizes the usual circumstances:

• To realize
  maximized productivity for project scheduling and resource
  utilization.
• To complete the project within the shortest time
  possible to meet specific priorities.
• To complete the project sooner than expected due
  to changing circumstances.
• To make up
  for lost time and/or other deficiencies.

When appropriately applied, the fast tracked schedule can solve
many problems and offer multiple benefits.  But, it has to be
approached carefully, and with a lot of planning.  Otherwise,
the risks can greatly outweigh the rewards.

How to Fast Track for the Best Results

When faced with the need to fast track a project schedule, the first
instinct may be to add resources, or even more likely, to put in more
work hours.  But these options are not always productive or viable. 
The use of additional staff resources, even when it is a possibility,
is often not a solution.  Under some project circumstances, certain
tasks can only be completed by a finite number of resources, in a finite
period of time.  In these cases, extra resources will only add
cost, cause confusion, and in fact, may even impede, rather that promote
progress. Overtime is also a tricky proposition.  While additional
work hours may shorten an otherwise lagging schedule, excessive overtime
may backfire if burn-out sets in.   As with most management
techniques, it’s all about striking the right balance between needs
and capabilities.

Fast tracked scheduling begins with an examination of five (5) key
assumptions, and continues with the seven (7) step planning process:

1. Do you have realistic schedule, with all tasks and activities
   properly identified?
2. Are you sufficiently aware of all task dependencies (tasks that
   must end before others begin)?
3. Do you have a solid grasp on project requirements, objectives
   and priorities?
4. Do you have a good working relationship with your project stakeholders?
5. Do you have established, tested practices for governance, oversight
   and problem management?

If you can answer “yes” to these questions, then you are ready to
“fast track” your schedule (in whole or part) and it’s time to move
on to the seven (7) steps of fast track scheduling:

1. Determine Your “Fast Tracking” Goals and Capabilities
2. Examine the Project Schedule to Identify Dependencies
3. Find “Fast Track” Opportunities in the Project Timeline
4. Identify all the Viable Alternatives to Make Schedule Adjustments
5. Make Informed Decisions (Based on Identified Alternatives)
6. Seek Consensus for all Fast Tracking Decisions
7. Monitor Progress and Track Problems

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CHECK OUT THE FAST TRACK PROJECT TOOLKIT.

If you’re looking for a fast, easy way to achieve project planning success, you’ll find it inside
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a project leader and fast tracking expert. Here’s what you’ll learn:

• How to plan and govern projects using strategic project fast tracking.

• How to use strategic project fast tracking to save time and make the most of available resources.

• How to use strategic fast tracking to overcome project constraints and limitations.

• How to use strategic fast tracking to negotiate with stakeholders and build shared expectations.

• How to use strategic fast tracking to become a more productive project manager and team member.