Change speed and duration for one or more clips
The speed of a clip is the playback rate compared to the rate at which it was recorded. Initially, a clip plays back at its normal, 100% speed. (Even if the frame rate of the source footage doesn’t match that of the sequence, the sequence automatically reconciles the difference. It plays back the clip at its proper speed.)
In a Timeline panel, clips with speed changes are indicated with a percentage of the original speed.
Changing clip speed omits or repeats the source frames during playback, thereby making the clip play faster or slower. A change in speed results in a corresponding change in duration, unless the clip is simultaneously trimmed. You can, for example, ungang speed from duration in the Clip Speed/Duration dialog box. Then, when you increase the speed, Premiere Pro uses more of the clip to fill the duration between the In point and the Out point. When you decrease the speed, Premiere Pro uses less of the clip to fill the duration.
You can ungang speed and duration with more than one clip selected. Then, you can change the duration of the clips. For example, you can change the speeds only enough to make all the clips last the same duration.
When you change the speed of a clip containing interlaced fields, you can adjust how Premiere Pro treats the fields. Consider making this adjustment especially when the speed drops below 100% of the original speed. (See Create interlaced or non-interlaced clips.)
You can use frame blending to smooth the appearance of a speed effect that changes the time or frame rate of a clip. To enable frame blending, choose Clip > Video Options > Frame Blend. For more information about frame blending, see Blend frames for smooth motion.
The duration of a clip is the length of time it takes to play from the In point to the Out point. You can set a duration for video or audio clips, letting them speed up or slow down to fill the duration. You can do the same for still-image clips, but without the changes in speed.
You can change the speed and duration for one or more clips at a time.
You can also set clip speed to fill a duration
by performing a four-point edit.Change clip speed and duration with the Rate Stretch tool
You can change a clip’s speed to fit a duration.
Select the Rate Stretch tool
, and
drag either edge of a clip in a Timeline panel. 
See this video tutorial by Andrew Devis on the razor and rate stretch tools.
Author Phil Hawkins also shows how to use the Rate Stretch tool in this Premiere CS5 tutorial video at Infinite Skills.
Change clip speed and duration with Time Remapping
You can change the speed of the video portion of a whole clip. You can use Time Remapping to create slow motion and fast motion effects in which the rate of speed varies.
The playback speed of the video portion of the clip changes and its duration expands or contracts depending on whether its speed is increased or decreased. The audio portion of the clip remains unchanged by Time Remapping, although it remains linked to the video portion.
Franklin McMahon provides a video tutorial demonstrating time remapping on the Layers Magazine website.
Vary changes to speed or direction with Time Remapping
You can speed up, slow down, play backward, or freeze video portions of a clip using the Time Remapping effect. Using speed keyframes, you can change speed numerous times within the same clip. Take a clip of a man walking, for example. You can show him moving forward quickly, slowing suddenly, stopping mid-step, and even walking backward, before resuming his forward motion. Unlike Clip Speed/Duration which applies a constant speed across the entire clip, Time Remapping allows you to vary the speed throughout the clip. Also, you can ease in or ease out speed changes.
You can apply time remapping only to instances of clips in a Timeline panel, not to master clips.
When you vary the speed of a clip with linked audio and video, the audio remains linked to the video, but remains at 100% speed. The audio does not remain synchronized with the video.
You create variable speed changes by applying speed keyframes. You can apply speed keyframes in the Effect Controls panel, or in a clip in a Timeline panel. Applying speed keyframes in either location is like keyframing Motion, Opacity, or any other keyframe effect, with one notable difference: a speed keyframe can be split to create a transition between two different playback speeds. When first applied to a track item, any change in playback speed on either side of a speed keyframe is instantaneous at that frame. When the speed keyframe is dragged apart and spread out beyond one frame, the halves form a speed change transition. Here, you can apply linear or smooth curves to ease in or ease out the change between playback speeds.
For a video tutorial about variable speed changes, see the Adobe website.
For a video tutorial about time remapping, see the Creative COW website.


Vary change to clip speed
Move an unsplit speed keyframe
In a Timeline, Alt-click (Windows) or
Option-click (Mac OS) the unsplit speed keyframe, and drag it into
its new position.Move a split speed keyframe
In the white control track area of the
clip, drag the grey-shaded area of the speed transition into its
new position.Remove the Time Remapping effect
You cannot toggle the Time Remapping effect on and off like other effects. Enabling and disabling Time Remapping affects the duration of the clip instance in a Timeline. In effect, Time Remapping performs an edit. However, you can use the Toggle Animation control in the Effect Controls panel.
Blend frames for smooth motion
Motion in a clip may appear jerky when you change the speed of a clip or output to a different frame rate. Turn frame blending on to create new interpolated frames that smooth the motion. Frame blending operates only when there is a mismatch between sequence and clip frame rates.
When frame blending is turned off, Premiere Pro duplicates frames to create the necessary interpolated frames. When frame blending is turned on, Premiere Pro averages the frames to create the necessary interpolated frames.
Frame blending is off by default.
Choose Clip > Video Options >
Frame Blend.Freeze a frame
You can freeze one frame of a clip, either for a set time or for the entire duration of the clip (as if you imported the frame as a still image). If you freeze a frame for only a portion of the clip, you can also create a speed transition to or from the freeze frame.
Franklin McMahon has this video tutorialon freezing a frame using the Frame Hold command and changing speed & duration for an entire clip.
. Unganging
also allows you to change the speed without changing the duration.



.
appear
in the speed-control track, indicating the section of the clip playing
in reverse.


