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Well, I will give you my perspective on this as a Contractor QC Inspector; we certainly cannot compromise on the Quality side.
By compromising the Quality and finishing the project on time, we might have short term benefits; but we are risking the company reputation in a big way. And that really matters in the long run - the reputation or the trust worthiness of the Company.
Having said that, there are certain things we can bypass to save time, without compromising the quality. I will put two examples here from my experience to give you an idea, there are several ways though:
Advance Approval: Instead of waiting for official approval of drawings, procedure etc, based on the urgency of work, sometimes we can proceeds the advance copy of submission, with mutual understanding with Client. This way we are just bypassing the paper works, and not actually compromising the quality of work. However, one must aware that there are certain amounts of risk involved here.
Scheduling Client Inspections: Sometimes we might require their presence during night time or holidays because of the hectic work schedule Contractor is following. Effectively arranging the inspection for Client (or representative) to witness and to get approval can let to you proceed for the next activities.
You see from the above two examples, we had managed to buy some time in to the project schedule by effectively coordinating with Client (or the End User), without affecting the quality of works.
Do you want
a) Something that doesn't work, tomorrow?
b) Something that does work, the day after tomorrow?
If you are on fast track project, there is high chance of COPQ which may leads your projects delay and increase cost to the project, which is uncertain. So, in a Rush Project you need to focus on Quality. Before to starts such project(s) you need to identifies risk or to perform the APQP (Advanced Project Quality Planning) and accordingly the impact of risks and their preventive actions. Suppose there is an operation having Critical to Quality, to mitigate it you can trained the associated personnel whether it is belongs to Quality or Execution, or you can make the Standard Work Instruction to handle such CTQ process. There is a vast pro-active role of your off line Quality Control Department in this situation.
Progress is important in any project because low progress costs you much in the ongoing scenario. Quality on the other hand, though do not cost you apparently, rather you see you are saving cost if compromising quality at the expense of progress at any stage, but it "costs you heavily" in the longer run. I would say, people must work under both pressures i.e., progress and quality, but at the end quality always gets the priority in any way. A well planned activity manages both.
As a project manager one should stress progress to his team. When the team works on progress, they will work hard on progress and produce acceptable quality work. However, if the project manager stresses the quality, the team would work hard to produce perfect work but not much quantity or progress.