Projects are time sensitive and various factors can influence their deadlines. Working within a time restriction can cause a project manager to rethink their approach and determine their ability to deliver when under pressure. A fast track project is not achievable for all businesses and when accepting a contract for a fast track project it's important to be prepared in order to ensure you have the capabilities and resources to get the job done. Fast track projects can be as a result of a time-sensitive opportunity to good to pass up where the client is trying to get ahead of fast moving changes. On the other hand, it could be a time-sensitive opportunity about to expire where the client is trying to catch up with fast moving changes. In both circumstances there are areas which must be address before commencing work.
Ensure your client is well aware of the risk of fast tracking a
Winning work is great for business and keeps the doors open, however if you can't deliver on what's required you run the risk of losing future business. It's important to take the time to weight up the risks against the reward, if you have the capability and sufficient resources to complete the project within a short time frame then reap the reward, if not then decline the work to save your company's reputation.
Once you've signed the documents and agreed to move
Fast tracking a project can result in additional costs to the budget. It's important to consider these costs and total the final cumulative dollar increase in order to ensure this will be financially viable for your business. Before signing any contracts you must weigh up the financial outlay and ensure you're making a profit or breaking even and not taking a financial step backwards.
Due to all the constraints and added costs it's important to look for all available opportunities to maximise materials and equipment used. Take time to view all your current resources and all your upcoming projects, from this allocate the appropriate resources to the projects where they will be most efficient. It's vital to consider any strategy and actions which will save you more time and money.
Some workers operate better under pressure and have the ability to deliver high quality work within a short time frame. These should be the first workers assigned to any fast track projects in order to deliver on all requirements.
Managing tasks effectively will be a big influencing factor on the progression and success of your project. Fast track projects need an added degree of organisation and coordination when it comes to onsite activities, resources and workers. If these are managed effectively, you'll have an increased chance of a timely completion within budget. Improve you management technique by using this Gantt Chart template today!