Dynamic Process VIs in LabVIEW (Part 1 of 2)

This is part 1 of a 2-part video series where we go into detail on how to use dynamic VIs as parallel asynchronous processes in LabVIEW. Topics covered in this video:
Differences between static vs dynamic VIs
How to build an executable with dynamic VIs
How to call a dynamic VI
How to use the Run VI method
How to pass data to a dynamic VI
Download Code used in this tutorial: (LabVIEW 8.2)
Do you have any questions? Is there something you want to know about in more detail? Leave a comment below, or send your questions to [e-mail]
Update
I have gotten an excellent question in the comments in response to this video. It's regarding how to close an idle dynamic VI front panel after it has been aborted. I created a short video response with a possible solution. Check it out here.
The basic idea is that you can check if the front panel is open (FP.Open property) after abort, and if it is, execute the FP.Open property set to False. However there is a caveat to this solution as I describe in the video.

[@midhunraj6261]

i have learnt a lot from this video...thank you..

[@muhammadhazmanhusin1973]

Please continue uploading videos for Labview

[@KellenMadsensLife]

So the benefit of implementing this is to use less memory during runtime? Rather than having a VI dropped on your block diagram that is opened during runtime?

[@guangdewang1032]

I see the shift register for the error wire, could you explain why it's done this way? Is there performance penalty?

[@gokulramananparandaman8496]

It's done so that the error, should one occur, is propogated to the next iteration and is not ignored