It’s not quite the same thing but if you or others readers haven’t seen the Workload Estimator 2.0 by Betsy Barre, Allen Brown, and Justin Esarey at Wake Forest then you should take a look: It’s based on the original tool developed at Rice which is also worth looking at because of the discussion and citations that are included:

I also think that interpreting the federal regulations for credit hours and direct assessment as “you can do whatever you want” is bad advice. I have not been involved in what the Dept of Education is referring to as “direct assessment” but I would be very surprised if it was a loose, laissez faire idea especially since it is put forth as an alternative to credit hours which are themselves closely tied to financial aid.

Finally, I have a question about the advice that “NO SESSIONAL/part-time teacher should be moving a course online for free.” Am I correct in assuming that this also means that you believe that those colleagues should also be paid for developing or modifying courses that are taught in other modalities?