What is a timecost trade-off in project management, or What is Project Crashing? Why is it important?

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What is a time–cost trade-off in project management, or What is Project Crashing? Why is it important? What implications may it have on project completion? What are the key considerations in the time–cost trade-off in project management? Explain the severity of such trade-offs for construction and R&D projects.

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