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The project duration is a measure of the average time over which a project delivers its value, and has the same duration as a project that delivers 100% of its cash inflows over the same period.
(and has the same duration as a project that delivers 100% of its cash inflows over the same period.) please explain this line.
It is rather badly worded, but effectively the project duration is the same idea as the discounted payback period. The discounted payback period just looks at how long it takes to get back the initial investment (in PV terms) but ignores any flows outside of the payback period. The duration takes account of all the project flows but effectively takes a weighted average attaching a higher weighting to earlier flows which are likely to be more certain given that all of the flows are going to be estimates.
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