This second entry in our "fast tracking" article series explores the fast track analysis, the decision-making process used to determine whether strategic fast tracking is the appropriate management approach for a given project.
The fast track analysis is essential to successful project "fast tracking", used to determine the level of "fast-track-ability" for a given project. To make this determination, the "analysis" process incorporates standardized techniques to evaluate current project demands and compare them against existing project capabilities. If a problem situation exists, and it appears that strategic fast tracking can be used to resolve it, then the project has "fast-track-ability".
And once "fast-track-ability" is determined, the remainder of the fast tracking process can be applied to get the project defined, negotiate with stakeholders, create the "sized" management plans, oversee the project management work effort, and finally, review the results to ensure continuous improvement.
Successful fast tracking depends on situational awareness and the willingness to make "tradeoffs and adjustments" in order to make successful projects "possible". Not every project is suited to this level of compromise. That's why the fast track analysis is so valuable - used to determine whether a project can be "resized and optimized" and still remain a worthwhile endeavor (i.e. does it have fast-track-ability?).
Note: These are the questions to be considered as the fast track analysis is executed. To achieve the best results, these questions should be addressed as part of a "team effort", bringing diverse interests to the table for the broadest, most inclusive conclusions.
What are the current project demands?
What are your current "performing organization capabilities"?
Can requested demands be filled with existing capabilities?
Ask the clarifying questions to determine fast tracking viability.
Strategic fast tracking is a project management methodology.
It provides a modified lifecycle approach, which can be applied on its own or in conjuction with other management methodologies.
It uses a series of streamlined steps and techniques to minimize obstacles and optimize existing capabilities.
It's structured into (5) phases for project selection, definition, governance, oversight and review.
It relies on multiple, strategic tactics to deliver on time results, including scope alignment, stakeholder engagement, "sized" governance, and continuous improvement.
It takes a results-driven approach to "managing", focusing on the "priorities" to save time and minimize project overhead.