What is fast-tracking?
Many tasks in a project naturally occur sequentially. First you complete Task A and then you can complete Task B. Fast-tracking is when you perform these tasks in a parallel manner.
What are the benefits?
The benefit of fast-tracking is that you can potentially reduce the timeline for your project. Instead of having to wait until Task A is done, you can begin work on Task B.
What are the risks?
The risk of fast-tracking is that you are performing tasks before all the predecessors are complete. This could potentially cause errors to occur or may require future rework.
How to use effectively
When your project appears to be falling behind schedule, you should examine the tasks along the project’s critical path. When you identify tasks that can possibly occur in parallel (either completely or partially), work with your team to update the plan of attack to work on these tasks in parallel. Also, ensure that you closely monitor these tasks as the risk does increase for fast-tracked tasks.