The questionnaire responses suggest the following profile for a typical respondent company. Projects are usually evaluated using NPV, but the company is likely to also use other techniques such as IRR and payback methods. The project cash flow projections are made from three to ten years into the future and terminal values at the forecast horizon are estimated as a growing perpetuity, although a multiple of terminal cash flow or earnings might be used. There is no dominant method for estimating the growth rate when computing terminal value, but the inflation rate, zero growth rate or industry average growth rate are popular choices.