As you read in the syllabus time is a key element in the grading structure for this course. We are treating this class like a business and you will be responsible to meet your contracted hours (note that in most jobs contracted or billable hours is a minimum. You may work many hours beyond the billable hours).
We do have one slight difference as compared to ‘real’ job. You may spend more of your hours learning than delivering a product. However, we will be similar to a job in that each of you is responsible to identify what you have ‘delivered’ with your hours spent.
Another crucial learning principle is for you to learn how long it takes you to complete projects. There will come a time in your near future where you will get asked this question for quite large tasks, “How many hours will you need to complete the task?”