What is fast-tracking in project management? Key benefits and drawbacks

The efficient use of time, budget, and available resources to achieve intended results – this is what project management focuses on. One of the main challenges that companies across industries face is scheduling, or deciding when and in what order particular tasks should be performed. The traditional approach assumes that tasks should be completed sequentially, but increasingly, companies are turning to an alternative method known as fast-tracking. Below we explain exactly what this method is, its advantages and disadvantages, and whether it can be applied to any project. Keep reading to learn more.

What is fast-tracking?

Fast-tracking is a project management technique that involves reducing the duration of a project by working on particular tasks in parallel. In practice, this means that tasks that are not logically related are performed simultaneously. This is the opposite of the traditional approach where they are done sequentially – one task begins after the previous one has been completed. The goal of this method is to accelerate the achievement of project goals by eliminating or reducing delays caused by sequential execution of tasks. You can fast-track a project in two ways:

• by starting a task just before the completion of a previous task that is related to it,
• by increasing the resources or the number of people who are working on a task to speed up the implementation.

The benefits of fast-tracking

One of the main advantages of using this technique is undoubtedly the reduction of project duration, which is especially useful when a project has a tight deadline. This method also ensures better use of resources – performing some tasks simultaneously reduces the need to wait for others to be completed. What’s more, fast-tracking allows for faster achievement of key project deliverables, which can be important when those deliverables are needed to meet other business objectives. This method can be applied to projects in different industries or fields (including construction, marketing, IT, etc.).

Does fast-tracking have any drawbacks?

Although fast-tracking has many advantages, it can carry some risks, such as conflicts between team members or management difficulties that can arise when tasks are performed simultaneously. As a result, the cost of a project may grow, for example, due to the need to hire new people or enhance the resources. Also, the number of errors may increase, affecting the quality of the developed product or service. At the same time, this method reduces flexibility in planning and carrying out the project – simultaneous execution of tasks may leave little margin for adjusting to changes during the project.

How to use fast-tracking?

Fast-tracking can be an effective strategy when you are pressed for time or when you need to shorten the project schedule (for example, in construction projects where any delays generate high costs). However, a few key principles should be followed to ensure that this project management technique produces the desired results. The most important of them we outline below.

• Selection of tasks – not all tasks can be completed using this technique. For this reason, it is necessary to thoroughly understand the dependencies between various tasks and stages of the project and to eliminate those that need to wait for the completion of others.
• Risk assessment – for the reasons outlined above, it is necessary to perform a careful risk analysis and to determine whether using this technique is fully justified.
• Monitoring and controlling – it is necessary to monitor the project’s progress and communicate with the project team to ensure that activities performed simultaneously don’t cause unwanted conflicts or delays.

Summary

In projects where time is a key factor, fast-tracking can prove to be an invaluable strategy, speeding up the delivery date of the intended result, which will undoubtedly satisfy the target audience. However, it should be used with caution to avoid, firstly, increasing costs and, secondly, compromising the quality of the project. For this reason, before you apply this technique, decide which tasks can be performed simultaneously. Then plan them accordingly and continuously monitor their progress to minimize potential negative consequences.

Whether you decide to use the fast-tracking method or the sequential approach, Firmbee will support you all the way through. The system offers numerous features such as Kanban boards, to-do lists, contact databases, calendars, and more. Try Firmbee for free!

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