While I personally don't utilize a ridge line any longer unless hammock camping it's like riding a bike and essentially just requires the following: a figure 8 knot on one end (make the loop over sized to easily pass the working end through), then slip the rope through a grommet and place a toggle in the loop (2x or however many you desire to do so), then tie a butterfly knot 3' of more from the second tree, pass the rope around the tree and loop the rope through the butterfly using it as a makeshift 2-1 and finish the system off with a truckers hitch for easy take down.
If I were going to do a true fire/shelter/water type of challenge to get the best possible time I would more than likely do the following: 1) Place a Modified Twig bundle fire (Learn how to build one here- LINK) against a log and light with a ferro rod or lighter; 2) Place my water bottle on top of the log at the center of the bundle; 3) Setup modified Diamond Tarp Shelter (Learn how to set it up here- LINK). Once the shelter is setup the water should be nearing its boiling point (depending on the ambient temperature and water temperature) and this time can be utilized to add larger fuel to your twig bundle and setup your bed roll. Assuming minimal negative variables and above 0F degree temperatures this entire process can usually be completed in close five minutes; whereas, the fire/shelter video took close to five minutes. Why can my preferred setup shave off so much time? The pre-made tinder/fire lay saves a ton of time and goes up like a roman candle and cooks like a flame thrower when you put the cooking vessel at the top of the fire lay and lighting the fire first gives me an extra two minutes or so to reach a boil while setting up the tarp. The modified diamond tarp shelter saves a ton of time and stays much warmer than other tarp setups.