When you have an Idea that tracks both Financial and Non-Financial benefits, you will be presented with two Benefit tabs. Capture the Idea financials including benefits start/end dates, forecast percentage, once-off benefits and investments.
The chart shows the Benefits of the Idea for the selected month. To change the months, and view previous months' benefit performance, use the month selection on the top left of the chart.
Information can be viewed in either a Grid or Chart format and data labels can be toggled.
The Financials slide-out allows you to enter the Benefits start and end dates.
Start Date Source:
- Stage date: select the stage in which the idea will begin showing a benefit
- First forecast date: use the earliest forecast data captured in the Forecasts slide-out
- Manual capture: select the desired date
End Date Source: If no end date is captured, the Benefit will be ongoing and the end date is indefinite.
- Manual Capture: select the desired date
- Based on start date: capture the period (in months), the system will add the period to the benefits end date.
Switching on the Annualised Benefit will always distribute the benefit over 365 days, switching this off will use the difference in days between the benefits start and end dates.
Click the forecast button to capture Forecast percentages by date.
This forecasts % overrides the default stage % set up in Admin>Stages.
Investments can be captured at the bottom of the Benefits tab(see this link on adding Investment Categories)
- One-off benefits are linked to the captured Investment categories with a type of Benefit.
- One-off costs are linked to the captured Investment categories with type a type of Capex or Opex.
A summary of the investments and ongoing benefits and forecasts are shown in the table below
If the Gap To Forecast is less than zero, 0 is shown because there is no gap.
The Grid view is a detailed breakdown of the Idea's VDT, showing the Baseline, Targets and Actuals.
Using the values above the Summary is Calculated as follows:
- Once-off Benefit Target = Sum of all Target Once off Benefits for the month.
- Once-off Benefit = Sum of all Actual Once off Benefits for the Month.
- Once-off Cost Target = Sum of all Target Once off Costs (Capex and Opex) investments for the month.
- Once-off Cost = Sum of all Actual Once off Costs (Capex and Opex) investments for the Month.
- Benefit per day = Benefit for month / Production days (taken from the calendar)
- Benefit for the Month = Annualized Benefit / Benefit duration (in days) * Production days in Month.
- Idea Value is driven by the VDT (Calculated by applying the formula on the actual and baseline values for the root node)
- Total Benefit days = period between the benefit Start and End dates.
- Production Days = (Number of days in the month), which is relative to each month(as displayed above).
- Ongoing Benefit = (Annualized benefit / total benefit days * days in the month).
- Target Benefit = (Idea Value / total benefit days * days in the months).
- Net Target Benefit = target benefit - (once-off costs & benefits).
- Annualized Benefit = (Annualized benefit from the Actuals)
- Target Annual Benefit = Idea Value = (Difference between the Baseline and Target)
- % of Target Improvement Achieved = (Annualized benefit Value for the month/idea value)
- Variance vs Target Annual Benefit = (Annualized Benefit Value - Idea Value)
This view contains the VDT nodes and values used to generate the Idea Benefits, the structure is as follows:
- Top Level - This is the Root node (e.g Idea Benefit for the example above) of the Idea VDT.
- Parent Nodes are bolded and can be expanded to see the children linked to them. (e.g. Product parent on the example above)
All these nodes will have the following values defined.
- Baseline - Obtained from the VDT.
- Target - Obtained from the VDT.
- Actual - Obtained from the VDT.
- Forecast - These are values for future months with respect to the forecast calculation methods selected for the Idea. See this article for more details. Idea Forecast
- Gap - It will be 0 if the Idea uses Forecast Amounts. When KPI Actual Forecasts are used this will be the difference between the Actual and Forecast for that particular VDT node.
- Benefit for the Month = These are the monthly benefit values.
- Forecast = These are values for future months with respect to the forecast calculation methods selected for the Idea. See this article for more details. Idea Forecast
- Gap to Forecast = The difference between the Forecast and Benefit for the Month. For future months the gap will be 0.
- Cumulative Benefit = Previous Month Benefit + Current Month Benefit.
- Cumulative Target Benefit = Previous Month Target Benefit + Current Month Target Benefit.
- Cumlative Net Benefits = Once benefit(s) + benefit for the month.
Summary FY(During the Financial Year)
- Benefit FY = Previous Month Benefit + Current Month Benefit.
- FY Forecast = Previous Month Forecast + Current Month Forecast
- FY gap to forecast = FY Forecast - Benefit FY.
Summary YTD (Year to Date)
- Benefit YTD total = Previous Month Benefit + Current Month Benefit.
- YTD Forecast =Previous Month Forecast + Current Month Forecast.
- YTD gap to forecast = YTD Forecast - Benefit YTD total.
Changes to the Idea Benefits are saved automatically.