Schedule compression techniques are crucial tools in project time management. Fast tracking and crashing help shorten project timelines, but they come with risks and trade-offs that need careful consideration.

When implementing these techniques, project managers must balance time, cost, and quality. Monitoring compressed schedules closely and using performance metrics like SPI and CPI helps ensure successful project delivery while managing potential challenges.

Schedule Compression Techniques

Fast Tracking and Crashing

• Fast tracking overlaps project activities or phases normally done in sequence
  • Reduces overall project duration by performing tasks in parallel
  • Increases risk of rework and quality issues
  • Works best for activities with minimal dependencies
  • Can lead to resource conflicts and coordination challenges
• Crashing adds resources to critical path activities to shorten duration
  • Involves increasing project costs to decrease schedule
  • Focuses on activities that provide the greatest schedule reduction per unit of cost
  • May require additional staff, equipment, or overtime work
  • Can potentially decrease productivity and quality if not managed carefully

Schedule Compression Strategies and Considerations

• Schedule compression techniques aim to shorten project duration without changing scope
• Analyze critical path to identify activities suitable for compression
• Consider resource availability and skill levels when applying compression techniques
• Evaluate impact on project budget, quality, and risk before implementing
• Use what-if scenario analysis to assess different compression options
• Monitor compressed schedule closely for potential issues or delays
• Implement compression gradually to minimize disruption to project workflow

Evaluating Schedule Compression

Trade-offs and Performance Metrics

• Trade-offs between time, cost, and quality must be carefully balanced
  • Accelerating schedule often increases costs and may impact quality
  • Analyze cost-benefit ratio of compression techniques
  • Consider long-term implications on project success and stakeholder satisfaction
• Schedule Performance Index (SPI) measures schedule efficiency
  • Calculated as Earned Value (EV) divided by Planned Value (PV)
  • SPI greater than 1 indicates ahead of schedule
  • SPI less than 1 indicates behind schedule
  • Formula: $SPI = EV / PV$
• Cost Performance Index (CPI) assesses cost efficiency alongside schedule compression
  • Calculated as Earned Value (EV) divided by Actual Cost (AC)
  • Formula: $CPI = EV / AC$

Monitoring and Adjusting Compressed Schedules

• Regularly update project schedule to reflect actual progress
• Track variances between planned and actual durations of compressed activities
• Implement earned value management techniques to monitor schedule and cost performance
• Conduct frequent team meetings to address challenges and coordinate compressed activities
• Adjust compression strategies as needed based on performance metrics and project constraints
• Document lessons learned from schedule compression efforts for future projects
• Communicate schedule changes and impacts to stakeholders throughout the compression process