Final answer:
The recommended time for release planning depends on various factors, but allocating around 20-30% of the estimated effort is a common practice.
Step-by-step explanation:
Release planning is the process of determining the time required to release a product or complete a project. In this case, the estimated product effort is 1000 hours.
The recommended time for release planning will depend on several factors, such as the team's productivity, resources available, and the complexity of the project. Generally, it is advisable to allocate additional time for planning and potential setbacks. A common rule of thumb is to allocate around 20-30% of the estimated effort, so in this case, it would be around 200-300 hours.