What are the types of duration?

Types of duration include several categories based on context such as time measurement, finance, music, and project management. In general time measurement, types of duration include short duration meaning brief time like minutes or hours, long duration meaning extended time like months or years, fixed duration meaning set length that does not change such as contract term of 5 years, variable duration meaning length that can change, and indefinite duration meaning no set end. In project management, types of duration include elapsed duration which is total calendar time including non-work days, work duration which is actual working time excluding weekends, effort duration which is labor hours required, and lead and lag durations. In finance, types of duration include Macaulay duration measuring weighted average time to receive cash flows, modified duration measuring price sensitivity to interest rates, and effective duration for bonds with embedded options. In music, types of duration include note duration like whole note, half note, quarter note measuring how long note lasts. In physics, duration types include proper duration and coordinate duration. In roofing, Owens Corning Duration is shingle brand but warranty duration types include non-prorated duration and prorated duration. In legal contracts, types include term duration, notice duration, and renewal duration. So types of duration vary by field, but generally include short, long, fixed, variable, elapsed, work, and financial durations measuring how long something lasts.