You work as the project manager for Bluewell Inc.
There has been a delay in your project work that is adversely affecting the project schedule.
You decide, with your stakeholders' approval, to fast track the project work to get the project done faster.
When you fast track the project, what is likely to increase?
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A. B. C. D.B.
When you decide to fast track the project, you are essentially taking steps to accelerate the project schedule by overlapping certain phases or tasks that would typically be executed sequentially. This means that tasks that were initially planned to occur later in the project may now be performed concurrently with other tasks that are currently ongoing.
While fast-tracking may help to get the project done faster, it is also likely to increase certain factors that could potentially affect the project's overall success. These factors include:
A. Human Resource Needs: When you fast track a project, you may require more human resources to carry out the concurrent activities. This may result in a situation where team members are overburdened, or there may be a shortage of resources, leading to increased stress levels and a higher risk of burnout. In addition, you may need to hire additional resources, which will increase the project's overall cost.
B. Risks: Fast-tracking increases the risk of errors and omissions as tasks that would typically be performed sequentially are now being carried out concurrently. As a result, there is an increased likelihood of conflicts or inconsistencies arising between tasks, which could negatively impact the project's quality or lead to rework. Additionally, if any issues arise during the fast-tracked phase, there may be less time to address them properly, leading to increased risk exposure.
C. Costs: Fast-tracking a project may require additional resources or the re-sequencing of activities, which could increase the overall cost of the project. Additionally, if there are any issues during the fast-tracked phase, it may result in additional expenses to correct or address the problem, which could further increase costs.
D. Quality Control Concerns: Fast-tracking may increase the likelihood of quality control concerns as activities are being performed concurrently, potentially leading to conflicts or inconsistencies between tasks. As a result, it is critical to ensure that quality control measures are in place to mitigate any risks or issues that may arise during the fast-tracked phase. However, if quality control concerns are not adequately addressed, they could lead to rework, project delays, and increased costs.
In summary, fast-tracking a project may help to accelerate the project schedule and get the project done faster. However, it is essential to be aware of the potential risks and drawbacks associated with this approach. By understanding the potential impact on human resource needs, risks, costs, and quality control concerns, project managers can make informed decisions about whether to fast-track the project or to follow the original project plan.