Hi all, does anybody know the technical difference between the terms "Man Years" and "FTEs"?
I have completed the Robotics Visualisation course and the term "Man Years" has been mentioned multiple times and seems to be a separate performance indicator to FTEs. Additionally, I cannot find the definition in the Glossary.
The man-year takes the amount of hours worked by an individual during the week and multiplies it by 52 (or the number of weeks worked in a year). The man-year calculated will be different for various industries depending on the average number of hours worked each week and the number of weeks worked per year.
An FTE is the hours worked by one employee on a full-time basis. The concept is used to convert the hours worked by several part-time employees into the hours worked by full-time employees.