Simply crashing is reducing an activity. A project is composed of several activities. Each activity has a duration. So the total time for the project depends on the durations of each activity. Therefore is we can reduce the duration of activities, we can finish the project quickly. Inorder to reduce the duration of an activity we have to put more resources to that activity. It means we have to put more money.
So the main advantage of crashing is the reduction of the project duration which ultimately reduce the indirect cost of the project.
The following presentation gives a brief introduction to crashing and it also contains a simple example on finding the cheapest activity to crash.
Below the presentation you can find a video which describes what is in the presentation.
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