The Forecast has been separated from the benefit tab and it has its tab.
- The value specified in the Idea Forecasts section is used to estimate future values for the Idea.
- The table will only show values that were captured/imported on the latest date in the month.
- New values captured on the forecast table default to the last day in the month as we do not accommodate the "days" of the month on the grid.
- So to overwrite a month value previously captured/imported on the table, you would have to import a value on the last day of the.
The system uses the specified percentage to override the predefined percentage for an Idea Stage e.g. Evaluating, Implementing(0.0%), Cash Flowing(50.0%) and Locked In(100.0%).
- Predefined percentages can be confirmed on Administration -> Stages -> Click on a particular Stage. i.e. Cash Flowing. The Benefit Target Percentage field is 50%.
The specified percentage is used to calculate the estimated value for that particular month, which is then used to generate the cumulative benefit report as per specified filters.
Note when a forecast percentage is specified it will be used from that date onwards until a new one is specified.
Forecast values are calculated in reference to the Idea stage at that time.
If there are no forecasts specified, the calculations are as follows:
- The Idea benefit or forecast value per stage is the Annualized benefit/365 * stage percentage = benefit of the Idea for a particular period.
Using the example above with a forecast percentage specified of 50% from 01 May 2018, the calculation is as follows:
- The Idea benefit or forecast value per stage is the Annualized benefit/365 * stage percentage = benefit of the Idea for periods before 01 May 2018
- From 01 May 2018 onward the Idea benefit value will be calculated as Annualized/365*50% until a new forecast percentage to be used is encountered.
Update June 2021
The following two forecast methods have been introduced:
- Forecast by amount: An idea owner will no longer need to convert the amount to a percentage when capturing a forecast. Previously, PiPware used the percentage value and calculated the benefit amount, however, with this new option, PiPware will not need to convert from % to the forecast amount.
- Actuals forecast values: This new selection has also introduced a new KPI Value called “Actuals Forecast Value”, which is explained here. When the idea owner selects this forecast, the benefits will be calculated by using the value from the KPI Actuals forecast during a forecast period of the benefit, and during the actual (Current / Past period) it will use the KPI Actual value as per normal. This new selection will not prompt the idea owner to capture values in the Idea Forecast panel.
