- What is the critical path of a project?
- What does fast track mean?
- What is critical path in PM?
- What is the crashing technique used for?
- What are five common reasons for crashing a project?
- Which one of the following is the objective in crashing?
- How do you determine which activity crashes?
- Which techniques can you use to shorten overall schedule duration?
- What are the disadvantages of fast tracking a project?
- What are two techniques used to compress a project schedule?
- How do you fast track a project?
- What are four common reasons for crashing a project?
- What is Fast Track delivery method?
- What is crashing a project?
- What is fast tracking and its impact on the project?
- What is crashing and fast tracking?
- How can you reduce the critical path time?
- What are the major ways of compressing a project schedule?
What is the critical path of a project?
The time required to traverse each path is the sum of the times associated with all jobs on the path.
The critical path (or paths) is the longest path (in time) from Start to Finish; it indicates the minimum time necessary to complete the entire project..
What does fast track mean?
The fast track is an informal English term meaning “the quickest and most direct route to achievement of a goal, as in competing for professional advancement”.
What is critical path in PM?
In project management, a critical path is the sequence of project network activities which add up to the longest overall duration, regardless if that longest duration has float or not. This determines the shortest time possible to complete the project.
What is the crashing technique used for?
Crashing is the technique to use when fast tracking has not saved enough time on the schedule. It is a technique in which resources are added to the project for the least cost possible. Cost and schedule tradeoffs are analyzed to determine how to obtain the greatest amount of compression for the least incremental cost.
What are five common reasons for crashing a project?
Graph that plots project costs against time; includes direct, indirect, and total costs for a project over relevant time range. What are the 5 common reasons for crashing a project?…Time to market pressures.Unforeseen delays.Incentives for early completion.Imposed deadlines.Pressures to move resources elsewhere.
Which one of the following is the objective in crashing?
The objective of crashing a project is to shorten the project’s implementation date by adding resources to critical path tasks. This lesson will define and provide an example of crashing a project.
How do you determine which activity crashes?
The basic process involved in generating a time-cost (crash) curve is to:Define the project logic.Add the duration for each activity.Establish the project critical path.Calculate the cost of crashing each activity.Calculate the cost of crashing per unit time.Calculate the most cost-effective crash sequence.More items…
Which techniques can you use to shorten overall schedule duration?
If the project duration expands beyond the desired finish date, you can shorten it in several ways:Shortening lag time between tasks. … Fast-tracking a project compresses the schedule by running tasks concurrently instead of in sequence. … Crashing is a technique in which you spend additional money to reduce duration.More items…•
What are the disadvantages of fast tracking a project?
What are the disadvantages of fast tracking?Lack of knowledge of the critical path. Never attempt to apply the fast tracking technique if you are not well informed about the critical path or how to find it. … Monitor the critical path closely.
What are two techniques used to compress a project schedule?
There are two techniques that are commonly used in schedule compression. These are: Crashing. Fast Tracking.
How do you fast track a project?
Determine Your “Fast Tracking” Goals and Capabilities.Examine the Project Schedule to Identify Dependencies.Find “Fast Track” Opportunities in the Project Timeline.Identify all the Viable Alternatives to Make Schedule Adjustments.Make Informed Decisions (Based on Identified Alternatives)More items…
What are four common reasons for crashing a project?
Here are 7 reasons why schedule crashing might be the right thing to do.To get the greatest schedule compression. … When part of the project jeopardises progress. … When meeting a fixed deadline. … When you are delayed. … When the team is needed on other work. … When another resource is free. … When another resource needs training.
What is Fast Track delivery method?
Fast-track building construction is construction industry jargon for a project delivery strategy to start construction before the design is complete. The purpose is to shorten the time to completion.
What is crashing a project?
Crashing • Project crashing is the method for shortening the project duration by reducing the time of one or more critical activities to less than their normal time. • Crashing is achieved by devoting more resources. Thus the cost associated with the project is increased.
What is fast tracking and its impact on the project?
Fast tracking a project is an advanced project management technique that allows you to shorten your project schedule and/or deliver your project schedule as fast as possible. … You must only select critical path tasks; otherwise, selecting non-critical path activities will not have any effect on your project schedule.
What is crashing and fast tracking?
In summary, the differences between fast tracking and crashing are: Fast tracking involves the performance of activities in parallel, whereas crashing involves the addition of resources to a project. In fast tracking, there is increased risk, whereas in crashing there is increased cost.
How can you reduce the critical path time?
How do I shorten the critical path?Shorten the duration or work on a task on the critical path.Change a task constraint to allow for more scheduling flexibility.Break a critical task into smaller tasks that can be worked on at the same time by different resources.More items…
What are the major ways of compressing a project schedule?
Schedule compression refers to a series of techniques used to shorten the duration of a project without compromising the result. Common schedule compression techniques include crashing, fast-tracking and resource reallocation.