Install time is the period it takes to fit each piece of equipment.  It is set for each piece of equipment and is shown in the information for that piece of equipment:

Overriding Install Time:
For proposed equipment, you can set custom install times for each piece of equipment in each zone.  This is especially useful for difficult installations.  For example, a PAR 38 typically takes 15 minutes to install, however in the lobby area they are on a 25 foot high ceiling.  You can use the Review Labor screen to override the installation time to 30 minutes each. 

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