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Fast Tracking

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Sept. 6, 2017
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Fast Tracking

Introduction

Fast tracking is a process of tracking the ongoing work in an organization. It measures the

quantity of work completed or yet to complete within the given deadline. It is a technique in

which activities performed in a sequence by using the original plan performed in parallel. The

fast track does not increase the cost, but it increases the risk. It is not an activity which requires

fast work but other than this it requires the overlapping of the stages of the design before the

work gets complete to get a quick delivery. Fast tracking techniques often introduced at the time

of crisis. (Om Prakash, 2012)

Advantages of Fast Tracking

1. It helps in shortening the schedule for a project

2. It helps to meet the deadline of the project.

3. It allows fulfilling the requirements of the client.

4. It helps to lower the cost of the project.

Challenges In Fast Tracking

1. In case of fast tracking, there is a risk of failure of the project.

2. It is challenging to manage tasks in parallel as it adds more risk to the project.

3. The team leader has less control over the individual member of the team.

CPI
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It is cost performance index of a project. It measures the amount of work completed a

project for every spent unit of cost. (Brown, 2010)

CPI= EV / AC

EV= Earned Value

AC= Actual Cost

If the value of CPI is above 1, then it means the project is going well against the budget. In

this project, the value of CPI is 1.2 which is good for the cost of the project.

SPI

It is known as sales performance index. It is the representation of the amount of actual

work completed as compare to the given schedule. If its value is above 1, then it means the

project is doing well according to the schedule.

SPI= EV/PV

EV= Earned Value

PV= Planned Value

In the given project the value of SPI is 0.8 which is less than 1. It means the project is behind

schedule.

Effective Project Closure

Project closure is the most important part of project management. The effective project

closure has some benefits for a project. It gives the satisfaction of the client. It identifies the
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completion of the project. It ensures that the project completed all the aspects of the client. Its

benefits are that it helps in analyzing and appreciating the team work. (Roman)

Practices of Project Closure

1. Communicate Closure

In this way, the managing of the project needs to communicate with the

stakeholders regarding the closure phase. It involves the notifying the

team of the project about the final closure of the project.

2. Transfer Deliverables

It is one of the tricky steps. It means if there is an update to the version of

the product software then it is necessary to deliver it o the client so that

customer becomes familiar with the updated version.

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References

Brown. (2010). Managing Projects. Tata McGraw-Hill Education.

Om Prakash, O. P. (2012). From Change to Transformation and Beyond: Maintaining Balance

on the Fast Track of Life. iUniverse.

Roman, K. H. (n.d.). Step Five to Effective Project Managemen: Closing Your Project .

Retrieved from augusta:

http://www.augusta.edu/ie/projects/documents/stepfivecloseproject.pdf