The "Panorama Klettersteig" stretches from the base of the "Roter Turm", at around 2600m elevation, to the "Grosser Laserzkopf", across both "Galizenspitze" and the "Daumen", and ends on top of "Große Sandspitze" at 2772m. During the entire ferrata, you can enjoy the Panorama down onto the "Karlsbaderhütte" and "Laserzsee", or leftwards out of the valley down onto the town of Lienz and distant 3000m peaks.

While most of the ferrata is graded at B, there are many brief downclimbing sections as you traverse along the ridge and a peak difficulty of C/D as you ascend to the "Daumen" through a small chimney. Compared to the elevation gain, the overall climbing length (~4000ft) is relatively long and should not be underestimated. 

Link to topo

The ideal approach is to climb the "Lazers Klettersteig (D)" as this puts you at the top of the ridge leading to the "Roter Turm". (Alternatively, you can follow an approach trail leading north from the "Karlsbaderhütte" to the same point.) From here continue east along the ridge for a few minutes until the ferrata branches off on the left. Once on the climb, orientation is easy and you'll reach the summit of the Sandspitz in 2-3 hours.

To descend, continue south from the Sandspitz summit down a steep trail which leads to a fork after ~15 minutes. Either continue climbers left down the "Ari-Schübel-Steig (B/C)" or right down the "Gebirgsjägersteig (C)". Both options consist of around 1000ft of downclimbing and lead back into a trail to the "Karlsbaderhütte"