Although this is a step-by-step series, everyone's methods will (and should) vary, so it really depends on how much time you think it will take (if you're billing hourly). What tools do you have at your disposal vs. how much researching for information will you have to do on your own? Will you have to pay for research reports or companies? Do you pay a monthly service for data or research?
Nice work Laura! This is going to be a great series. I'm working my way through SEOmoz's Advanced SEO Training Series (videos) Vol. 1 & 2 to build upon the advice and guidance that you and your team provided to me during my time at Yahoo!. Now many others will benefit from your knowledge, experience and passion for SEO strategy and tactics. Best wishes for great success in your new role.