How to get a hold of what's going on when getting ownership of the running project?

How to achieve results when strictly time- and resource-boxed?

How to keep team members focused on objectives and reduce distraction?

Here is what I've done:

• Visualizing and modeling. White board is my best friend to get fast hold on what is going on. White board defines clearly "theater of operations".
• Setting clear daily goals. Allows evaluation of progress by end of the day.
• Define fine grained tasks. Allows assign short term achievable tasks to each member and also see how it contributes to the whole project.
• Making sure tasks are clearly understood and clearly assigned. Never assume "it is understood" rather ask for reflection. Even simplest things ever can be misunderstood.
• Making sure there is parallel work can be done. Sometimes there are situations when one team waits on another to move forward. Find proper short task to avoid idle time.
• Doing short sprints of tasks. Allows quickly get results or re-evaluate the course of execution when tasks are failed.
• Conducting quick sync meeting before lunch (it ensures the meeting will be short). Allows to evaluate daily progress and adjust while it is not (there is another half of day).
• Conducting sum up sync meeting by the end of the day. Reflects on daily progress and evaluates the goal.
• Collecting and organize data while conducting tests. Allows re-evaluate the course of execution and saves time in the end of lab.
• Focus on objectives.  Objectives help scope and keep things on track.  When things get off track, or things get emotional, focusing on objectives brings everybody back to common ground.  
• Celebrate the day. Each restaurant we went in Munich offered fantastic food and of course a lots of beer. Recharges and set right spirit for another hard work day.

The results:

• The team overcame numerous obstacles to stabilize the system in the lab and actually conduct load tests and profiling of different types.
• The team Identified ineffective data access approaches.
• The team Identified ineffective algorithms.
• The team Identified ineffective serialization mechanisms.
• The team identified arch changes need to be made to reduce network round trips.
• The team was able to collect and distill the data in the way decision makers can make their decisions.

Here is a wonderful visual that Srinath shared with me - thanks!.

It perfectly visualize how to not get lost among many tasks.

It was my first time in Munich and Germany as well. Amazing country.

Special thanks go to Rolf, Olaf & Olaf for warm hosting and professionalism each one offered in his area of expertise - Thanks!