A moment of magic from Grant McCann earned three priceless points as Sheffield Wednesday were beaten 1-0 in a London Road nail-biter.
Posh fans poured onto the pitch at the final whistle but Ferguson moved quickly to calm their celebrations, with his team only being kept out of the drop zone by a superior goal difference to relegation rivals Barnsley.
Ferguson said: "Great players always perform in the big games and Grant does that for us.
"He loves scoring important goals in front of the live TV cameras and he came up with an absolute peach of a goal.
"We've done our job this weekend but we have another big one to do next weekend.
"I've felt for a while that it would go all the way to the final day of the season and that's how it has panned out.
"The way we have responded to such a poor start to the season is excellent. We've produced top-three form since Christmas.
"We're in a good position in so much as we know that if we match Barnsley's result, we'll stay up.
"I've got a fantastic bunch of lads and have never once questioned their commitment. Yes, they make the odd mistake, but they are only human."
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