i have somewhat of a tick coming from close to the timing cover or under the valve cover on the timing side. some one said it sounds like the timing belt is slapping against either something metal...i want to find this hard to believe as the timing belt was replaced less than 20,000 miles ago when i had to replace the water pump.

Any suggestions or ideas?

 

Hrm, can you see any excessive wear along the belts? Do you notice long stretch marks, or ding's or cuts in your belt? If not, take the 4 bolts off your valve cover (don't be scared, it won't bite) do you notice if the oils is dirty with (pieces of metal, dirt... ect) in it. If so change to oil. If you notice that your belts are fine, make sure your securing bolts for the water pump are tight, it might be it rattling around. How many miles are on the car, do you drive excessively fast? Could it be your camshaft has finally taken a beating? There are only a few suggestions, if in doubt get a certified person to look at it.
Enjoy
Mr. Porsche

 

Water pump is only tightened to like 7 or 9 ft pounds so don't over do it. Was the tick always there or is it bad? If you see metal in your oil, you are in trouble.
Fuel injectors are suposed to tick. Is it them? You can listen to them with a long screw driver against your ear (handle end on ear, other end on the fuel injector). I'm already out of ideas.

 

The ticking could be a lot of things. It could be valve tap, warped timing belt, A chip in the timing gears, your injectors doing their job.