A dynamic planning and control methodology is developed by integrating the applications of axiomatic design concepts, concurrent engineering concepts, the graphical evaluation and review technique (GERT), and the system dynamics modeling technique. The goal of the proposed methodology is to help create a dynamic project plan for design/build fast-track civil engineering and architectural projects where unforeseen changes can be absorbed in the project schedule without creating major interruptions. The axiomatic design concepts are applied to formulate and evaluate various work methodologies, and to create a project plan based on the selected work methodology. The concept of concurrent engineering is adapted to develop a fast-tracking framework based on the task production rate, the upstream task reliability, and downstream task sensitivity to the upstream error The GERT diagramming scheme is used to calculate the project duration probabilistically by incorporating the possible branches and loops in the project. The system dynamics modeling technique is applied to analyze the causality links of relevant factors in the construction system, and further identifies the important variables that determine the success of a particular overlapping strategy. Consequently, with a rigorous and systemized methodology to help project planning, potential problems can be addressed early before construction. The overall increase in productivity and efficiency as a result of a better planning process can consequently promote the competitiveness of the construction industry.