Thank you all for answering the thread.
To get a "quantitative measure" of the performance, I tried using Synchro to model the scenario. Turns out Synchro has this model under their example. The basic idea is to set up two signals at each end of the work zone and group them so the intersections will operate under one controller. A simple two-phase signal that allows one direction at a time was set up. Then, by adding a long all-red clearance interval between the phases to clear the space between the two signals.
For my case, the work zone is only about 200 feet long. Since I do not have the peak hour volume, I simply estimate a conservative 20% of the ADT as my peak hour volume and I assume a 50% split for the directional traffic. I also assume vehicles to travel at 15 mph through the work zone and use that to determine my all-red clearance interval.
With all the information inputted, I allowed the program to optimize the cycle length. The program suggests a cycle length of 270 seconds. The analysis shows that with 2000 peak hour traffic (20% of 10,000 ADT), the signal will be operating at LOS F (205 second delay) with a max V/C of 1.32, and a 95th queue of 2,800 feet. It does not appear the signal will perform well under this scenario.
I then tried different volumes to see if I can make it perform at LOS D and under capacity. (Over here in Connecticut, LOS D and a max V/C of less than 1 is generally considered the limit of acceptable performance.) With few rounds of trial and error, I was able to optimize the system at 1,200 peak hour traffic.The program suggests a cycle length of 130 seconds. The signal will be operating at LOS D (54.5 second delay) with a max V/C of 0.92, and a 95th queue of 750 feet.
The results indicate an ADT of 6,000 is probably what you can expect a temporary two-way control signal to work efficiently.
I do not think 6,000 is the answer to my question. I did the excecise simply to satisfy my own curiousity. I agreed with what Drumchaser said, each situation is unique.