Crashing and Fast Tracking are Schedule

Compression Techniques
Crashing : Add resources to your project so you can finish
faster. Crashing almost always involves a financial cost. Crashing
means to add additional resources to your project .A technique used
to shorten the schedule duration for the least incremental cost by
adding resources.
Fast Tracking : Perform tasks in parallel so you can finish faster.
Overlapping tasks in this way often increases risk
A schedule compression technique in which activities or phases
normally done in sequence are performed in parallel for at least a
portion of their duration.
Fast tracking is applied by re-scheduling various activities within the
project to be worked on simultaneously instead of waiting for each
piece to be completed separately. Always start with this
technique first.Why? Because there is no cost involved. You are
basically "just rearranging the schedule".
Fast tracking means executing two activities at the same time, even
if they would normally not be done in this way.
This is useful in those situations when you have fallen behind the
original schedule and now need to "catch up", or if you want to finish
sooner because a competitor is working on the same type of product

Crashing and Fast Tracking are Schedule

Compression Techniques
Crashing : Add resources to your project so you can finish faster.
Crashing almost always involves a financial cost
A technique used to shorten the schedule duration for the least
incremental cost by adding resources.
When the crashing approach is used, any additional costs associated
with rushing the project are reviewed against the possible benefits of
completing the project on a faster timeline. Additional items to
consider when using the crashing approach include adding more
resources for the project, allowing additional overtime, paying extra
to receive delivery of critical components more quickly, etc
you analyze the critical path.
You identify all tasks that can be shortened by adding additional
resources.
You make a calculation for each task, determining the cost and
number of days saved by adding additional resources.
You identify the least costly approach.
You provide a crashing budget and updated schedule to the sponsor

Contingency plans

Contingency and fallback plans are the backbones of your risk

management plan
Contingency plans are the plans describing the specific actions that
will be taken if an opportunity or a threat occurs.Contingency
response strategy will be executed if there is a sufficient warning
sign (risk trigger).
This means a contingency is an event that may or may not occur.
Therefore, you can say that the contingency plan is a plan that deals
with events that may or may not occur. In project management, a
contingency plan is a part of the project management plan and it
describes every action that you will take if the risk is about to
happen or has happened.
Contingency reserve is used to manage identified risks
Management reserve is used to manage unidentified risks
Fallback Plan
Fallback plan is implemented when the contingency plan fails or is
not fully effective. In other words, you can say that the fallback plan
is generally made for residual risks. It is a backup plan for the
contingency plan.
The fallback plan is also a part of the project management plan and
defines the cases where actions have to be taken.
The difference between Contingency Plan and Fallback Plan

1.2 ObjectivesPreview1:25
1.3 Course Overview2:15
1.4 Course Overview (contd.)2:19
1.5 PMI-RMP and PMIInformation3:34
1.6 Prerequisites for the PMI-RMP Exam3:43
1.7 RMP Credential ProcessTimeline0:0
1.8 About the PMI-RMP Exam1:0
1.9 About the PMI-RMP Exam (contd.)1:56
1.10 PMI-RMP Exam Syllabus0:0
1.11 Domain 1Risk Strategy and Planning2:37
1.12 Domain 1Risk Strategy and PlanningKnowledge and Skills2:21
1.13 Domain 2Stakeholder Engagement2:0
1.14 Domain 2Stakeholder EngagementKnowledge and Skills2:24
1.15 Domain 3Risk Process Facilitation2:43
1.16 Domain 3Risk Process FacilitationKnowledge and Skills2:4
1.17 Domain 4Risk Monitoring and Reporting2:41
1.18 Domain 4Risk Monitoring and ReportingKnowledge and Skills2:8
1.19 Domain 5Perform Specialized Risk Analyses2:9
1.20 Domain 5Perform Specialized Risk Analyses Knowledge and Skills2:21
1.21 Summary1:53
1.22 Conclusion

Lesson 02 - PMI-RMP Risk Management Framework40:6

2.1 Risk Management Framework1:17
2.2 Objectives1:22
2.3 Purposes of Practice Standard for Risk Management2:54
2.4 Project RiskDefinition2:12
2.5 Project Risk ManagementDefinitions2:26
2.6 Project Risk ManagementDefinitions (contd.)0:0
2.7 Project Risk ManagementDefinitions (contd.)0:0
2.8 Roles of Project Risk Management2:17
2.9 Good Risk Management Practices3:28
2.10 Critical Success Factors2:41
2.11 Functional Organization1:50
2.12 Functional OrganizationAdvantages and Disadvantages2:10
2.13 Projectized Organization1:23
2.14 Projectized OrganizationAdvantages and Disadvantages2:19
2.15 Matrix Organization1:19
2.16 Matrix OrganizationAdvantages and Disadvantages2:30
2.17 Types of Risk2:23
2.18 Types of RiskKnowledge of Risk Level2:9
2.19 Quiz0:0
2.20 Summary1:46
2.21 Conclusion

Lesson 03 - PMI-RMP Principles and Concepts18:36

3.1 Principles and Concepts1:19
3.2 Objectives1:33
3.3 Individual and Overall Project Risks2:33
3.4 Stakeholder Risk Attitudes0:0
3.5 Iterative Process2:15
3.6 Communication1:48
3.7 Responsibility for Project Risk Management2:38
3.8 Role of Project Manager2:54
3.9 Quiz0:0
3.10 Summary1:39
3.11 Conclusion

Lesson 04 - PMI-RMP Introduction to Project Risk

Management Processes19:20
4.1 Introduction to Project Risk Management Processes1:19
4.2 Objectives1:20
4.3 Project Risk Management1:56
4.4 Project Risk Management and Project Management2:35
4.5 Project Risk Management and Project Management (contd.)2:13
4.6 Project Risk Management Processes2:44
4.7 Project Risk Management Processes (contd.)3:8
4.8 Project Risk Management Processes (contd.)0:0
4.9 Quiz0:0
4.10 Summary1:42
4.11 Conclusion

 Lesson 05 - PMI-RMP Plan Risk Management49:30

5.1 Plan Risk Management1:37
5.2 Objectives1:19
5.3 Objectives of Plan Risk Management Process1:34
5.4 Purposes of Plan Risk Management Process2:14
5.5 Purposes of Plan Risk Management Process (contd.)1:42
5.6 Success Criteria3:19
5.7 Critical Success Factors0:0
5.8 Inputs, Tools and Techniques, and Outputs2:1
5.9 Inputs2:36
5.10 Tools and Techniques0:0
5.11 Output1:38
5.12 Project Templates1:38
5.13 Documenting the Results2:2
5.14 Standardized Approach to Risk ManagementExample1:48
5.15 Standardized Approach to Risk ManagementExample (contd.)1:0
5.16 Risk Management PlanComponents2:24
5.17 Risk Management PlanComponents (contd.)1:51
5.18 Probability Scales2:16
5.19 Impact Scales1:51
5.20 Probability and Impact Matrix2:15
5.21 Risk Breakdown Structure (RBS)2:17
5.22 Risk Tolerance1:34
5.23 Techniques to Determine Risk Tolerance and Risk ExposureExample1:58
5.24 Techniques to Determine Risk Tolerance and Risk ExposureExample (contd.)1:46
5.25 Risk ManagementRoles and Responsibilities1:45
5.26 Levels of Uncertainty1:55
5.27 Levels of Risk Tolerance0:0
5.28 Quiz0:0
5.29 Summary1:48
5.30 Conclusion1:7

Lesson 06 - PMI-RMP Identify Risks

 Lesson 05 - PMI-RMP Plan Risk Management49:30

5.1 Plan Risk Management1:37
5.2 Objectives1:19
5.3 Objectives of Plan Risk Management Process1:34
5.4 Purposes of Plan Risk Management Process2:14
5.5 Purposes of Plan Risk Management Process (contd.)1:42
5.6 Success Criteria3:19
5.7 Critical Success Factors0:0
5.8 Inputs, Tools and Techniques, and Outputs2:1
5.9 Inputs2:36
5.10 Tools and Techniques0:0
5.11 Output1:38
5.12 Project Templates1:38
5.13 Documenting the Results2:2
5.14 Standardized Approach to Risk ManagementExample1:48
5.15 Standardized Approach to Risk ManagementExample (contd.)1:0
5.16 Risk Management PlanComponents2:24
5.17 Risk Management PlanComponents (contd.)1:51
5.18 Probability Scales2:16
5.19 Impact Scales1:51
5.20 Probability and Impact Matrix2:15
5.21 Risk Breakdown Structure (RBS)2:17
5.22 Risk Tolerance1:34
5.23 Techniques to Determine Risk Tolerance and Risk ExposureExample1:58
5.24 Techniques to Determine Risk Tolerance and Risk ExposureExample (contd.)1:46
5.25 Risk ManagementRoles and Responsibilities1:45
5.26 Levels of Uncertainty1:55
5.27 Levels of Risk Tolerance0:0
5.28 Quiz0:0
5.29 Summary1:48
5.30 Conclusion1:7

Lesson 06 - PMI-RMP Identify Risks