Table 20-14
The table above reports the nominal average hourly earnings in private industry and the consumer price index for 1965 and 2010.
-Refer to Table 20-14. The real average hourly earnings for 1965 in 2010 dollars equal
Definitions:
Crash Cost
The additional cost incurred to reduce the duration of a project activity or the entire project.
Normal Duration
The typical time it takes to complete an activity or task under normal circumstances, without any delays or accelerations.
Crash Cost
The additional cost associated with reducing the time (crashing) required to complete a project or a phase of a project beyond normal expectations.
Time Savings
The reduction in the amount of time required to complete a task or project, often leading to efficiency improvements.
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