I need to have an estimate of how many hours are required for HCP setup and administrator activities?
Please share if anyone has done that.
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Approximately, somewhere between 0h and several weeks.
Your question is too vague. What do you want to do with HCP?
The setup and configuration depends largely on your requirements - the services you want to use, IDP you decide to use, landscape etc.
I would suggest that you explore your trial HCP account to get an idea of the time required to carry out the configuration activities.