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Fast-tracking involves working simultaneously on activities that would have been performed sequentially under normal circumstances. [2] Project crashing occurs when additional resources are required to meet the established deadline. Project crashing increases the cost of the goal. [3] Crash analysis compares the costs of shortened deadlines. [4]
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. [1] [2]
Even the traditional design–bid–build process can use Fast-track concepts by bidding separate general construction contracts for phases of the work. However, many owners choose experienced project teams and consider the rewards to be well worth the risks. One source states that Fast-track is used on 40 percent of building projects. [3]
The project has two critical paths: activities B and C, or A, D, and F – giving a minimum project time of 7 months with fast tracking. Activity E is sub-critical, and has a float of 1 month. The critical path method ( CPM ), or critical path analysis ( CPA ), is an algorithm for scheduling a set of project activities. [ 1 ]
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PERT network chart for a seven-month project with five milestones (10 through 50) and six activities (A through F).. The program evaluation and review technique (PERT) is a statistical tool used in project management, which was designed to analyze and represent the tasks involved in completing a given project.
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