Need help creating an equation to prepare proposals

I work for a video production company and am trying to streamline our bidding process. I have had the employees filling out categorized time sheets for over a year now and believe I have enough data to create a formula. The formula would only involve post-production.

Here is my end goal:

The part of the formula that we would fill in would consist of the four following categories:

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1. (M)Minutes of Final Project (1-whatever)

2. (Q) Quality of Project (1-5) - How high is the client's expectation of quality

3. (I) Post-Production Intensiveness (1-10) - 1 would be if we shot video and did a basic assembly of the video, 10 would be if we pretty much created the entire project digitally

4. (C) Layers of clients above us - (1-5) Is there an agency above us, and another above them, etc. Could also be a factor that dealt with how many decision makers are there approving the project.

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I have data of each project we have completed from the past that includes the time each employee worked on the project in post-production. Our rates are tiered based on the difficulty of the post-production work, hence factor #3 in my formula.

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Here is how I was thinking of tackling the task:

1. I would go back and input all the time that I currently have for each project into our current rate structure to give me an actual overall post-production cost.

2. I would then have 2 real numbers: (T)time spent on project, (P)total price

3. I would then rate the project in hindsight and fill in the numbers in Categories 1-4.

4. I would then solve for X to find the cost of the project.

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So here is where I am stuck....

Based on the following factors that I now know, I want to solve for X:

M = Minutes of Final Project

Q = Quality of Project (1-5)

I = Post-Production Intensiveness (1-10)

C = Layers of clients above us - (1-5)

T = Time spent on project

P = Total Price

I am not sure how I would add, multiply, the factors to create the equation...I think if I was solving for actual price it would be something like this....

M*((Q*I*C)/3)*X = P

I am curious if anyone can give me insight as I get ready to go back and analyze the numbers if I should be going in a different direction or if I am on track.

Thanks for any help!

Did I post this in the wrong forum?

Did I post this in the wrong forum?