I've had better luck with my own formula than with the canned Nortel definition:
ASSIGN (((QUEUED CALL COUNT Skill_cv WITH CALL PRIORITY Prio_cv * AVERAGE SPEED ANSWER Skill_cv) / LOGGED AGENT COUNT Skill1_cv) - AGE OF CALL) + 30 TO EWT_cv
As you can see, I add 30 seconds to my final answer to give me some room to work. From my perspective, it's better to answer in 4 minutes when the EWT was 4:30 than the other way around.
I also like to compare the EWT on each pass through the loop so that I never give a higher EWT than has already been spoken.
IF
EWT_cv > EWT_Last_cv
THEN
EXECUTE Start_of_Loop
END IF
Give the EWT here...then...
IF
EWT_cv < EWT_Last_cv
THEN
ASSIGN EWT_cv TO EWT_Last_cv
END IF
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