Pre-determined times within formulas

Hi,

I would like to calculate how long a project will take based on the number of components * various pre-determined times.

Here, for example, I’m saying that it takes 5 minutes to work on one Table. I would like to replace the 5 with 00:05:00, if possible. As this is an average time, I would like it to be part of the formula and not taken from another column.

Thanks!

(Datasets+{Time series}+{Supporting articles or methodologies}+2)*2
+
((Words*4)/500)
+
((Charts+Interactives)*3)
+
Tables*5
+
((Datasets+{Time series})*1)