KPIs – Setting up Targets
Once a KPI has been created, targets must be entered in order to assess performance.
To do this, follow the steps below.
STEP 1: From within a KPI record, click on the Targets/Actuals tab.
STEP 2: Begin by selecting a reporting year from the drop-down list.
STEP 3: Now enter your target and variance for the whole reporting year.
Note: The number of periods displayed on this page will have been determined by the ‘PERIOD’ selection made on the KPI tab. For example, if you selected Quarterly, you will be able to enter data for the four quarters; a selection of Monthly would enable the entry of data for the twelve months.
STEP 4: Click Replicate or Split as relevant.
Average and normal aggregation methods will allow you to REPLICATE the full year’s target into each period target for that year.
Cumulative aggregation methods will allow you to SPLIT the full year’s target into each period for that year, which will divide the yearly target among the periods of the year.
Individual period targets for KPIs may be manually changed after their automatic input. However, the total of all the periods’ targets must still add up to the total year target, or, if averages are used, the individual targets as a whole must have an average which is equal to the whole year target.
STEP 5: Actuals for the KPI, Notes and Tags on the period’s performance may also be entered here for every period of each reporting year. Updating however, is generally done by the responsible or reporting officer from their homepage.
Note: Tags must be configured from the ‘Tag Configuration’ area (Strategy Navigation > Administration > Configuration > Tag Configuration) by the administrator in order to add tags here.
STEP 6: If you ticked the Show Benchmark and Show Forecast options in the KPI tab, you will see additional columns which allow you to enter data for these fields.
STEP 7: Click Save to save the entry or Close to exit without saving.
The administrator can select to replicate the KPI targets, variances, benchmarks and forecast from one reporting year to another through settings. Please refer to Replicate KPI Targets section under administration on how this option can be used.
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