As many of us know, many of the repeatable quests have time limits: defend settlement attack, rescue kidnapped settler, clear a location of enemies as requested by a settler, etc. I'm interested to know what some of you think are the limits. In real-time hours/minutes? In in-game hours/minutes? My first speculation is that the clock seems to be ticking ALL THE TIME, and quests could fail at any time. I've had expired quests fail after I fast-traveled. I've had quests fail IN THE MIDST of my playing those quests: once I was killing mutants in a hospital and the quest failed in the middle of it because I hadn't yet killed the boss mutant, who was only a few feet away from me! That told me that merely arriving at the location of the quest does not stop the ticking clock; you have to actually kill the boss enemy, if any, or kill all enemies.
My experience has been that I would run out of time most often right after I fast-travel. That indicates to me that fast-traveling seems to speed up the ticking clock, thus increasing the chance of your reaching the time limit. This makes sense since fast-travel speeds up in-game time (by 2x or 3x, I believe).
That, in turn, seems to indicate that the IN-GAME CLOCK is used for the quests' time limits, i.e. the clock shown in the Pip-Boy. We know that in-game "time scale" is 20 to 1, i.e. 20 hours of Pip-Boy time corresponds to 1 hour in real time. When you fast-travel, that ratio is even higher (maybe 2x or 3x higher). My experience has been that (and this is just an estimate) that a quest would fail perhaps in 2 to 3 hours of REAL-TIME gameplay. That would correspond to 48 to 72 hours Pip-Boy time. In other words, a quest would fail within 2-3 days of Pip-Boy time in my rough estimates were true.
That means if you have one hour in-game time left, you have only 3 minutes left in real time. Two hours in-game = only 6 min real time left. And so on. Those settlement defense quests can be finished fairly quickly, maybe within 2 minutes, so they are less of a worry. But when your quest is to clear a large location, and you don't remember where the boss enemy is, you may have to spend 10-15min of running and gunning in that location. That means you need to have about 4 to 5 hours in-game time before the quest expires.
Some of these quests have multiple stages too: you may have to talk to settler to be given the quest, then do the quest. My experience seems to indicate that each stage has its own ticking clock.
Finally, the clock doesn't seem to click when (a) the pause the game by bring up the game's menu, ( the gameplay pauses during inventory transfer. I don't know whether VATS slows down the ticking clock; it probably does.