How to Identify Objectives where the KPI needs to be configured
KPI Tracker - Required Configuration Tab
KPI Tracker - Optional Configuration Tab
How to Identify Objectives where the KPI needs to be configured:
|Value Creation Plan
|Any Value Drivers or Objectives showing with a red spot,
click on the circle to bring up the KPI Tracker Configuration dialogue box.
|Use the filter to only show Objectives
where the KPI has not been published :
|If the KPI tracker has not been configured yet, the button will show orange.
If the KPI tracker has been configured and published, the button will show grey.
|The Value Creation Health widget will show you
any Objectives where the KPI has not been configured.
KPI Tracker - Required Configuration Tab
Clicking on a red spot from the VCP or the Configure Tracker button will bring up the KPI Tracker Configuration dialogue box.
Remember if KPIs are not being used update the Value Driver or Objective to show as an Initiative instead using the button at the bottom of the screen:
This section has two tabs, Required and Optional.
In the Required section you need to set the following details:
- Target Value - Your target value.
- Format - Monetary value, Number or Percentage.
- Tracker Type - Total Higher/Lower than OR Each Period Higher/Lower than
- Frequency - How often to track the target (Monthly, Quarterly, 6 Monthly or Yearly)
- Start Period - When to start tracking the target e.g. Q1 or April
(*Options available for Start Period depend on Frequency selected)
- Periods - How many periods to track from the start date.
Target by period configuration
If the Tracker Type was selected as "Period", the target value will be awarded to each period created.
If the Tracker Type is "Total" the values will be split equally across the periods, with any remainder added to the last period.
You can adjust the Target by clicking into the cell and typing a new value but if the Tracker Type is set to Total, the Target column must add up to the Target Value before you can Save / Save and Publish.
If this happens, you will see a warning to flag this up and suggestions of how to resolve this:
If you Save the KPI Tracker, the owner / deputy will not be able to enter any actual values.
You need to Save & Publish to allow actual values to be added.
KPI Tracker - Optional Configuration Tab (Advanced)
In the Optional section you can set the following details:
- Definition - Text field to describe how the KPI is calculated, this acts as a reminder when someone clicks " Update Result" when viewing a single objective.
- Data Source - URL of a Data Source (e.g. BI tool) to support the actual values.
This link will then show on the Value Creation Plan as this symbol and "Update Result" will have an extra button at the bottom to take you to the link.
- Averaged Result? - Specify how the result is calculated based on last period, average of results to date or average of actual values to date.
(This option is only available if the KPI Tracker Type is set to Each Period - Higher/Lower than , this option will not appear if the KPI Tracker Type is set to Total - Higher/Lower than).
- No. of digits after decimal - Specify accuracy to one or two decimal places if required.
(This option is only available if the KPI Format is set to Number or Percentage, this option will not appear if the KPI Format is set to Money)
- "This objective is calculated based on its supporting objectives" - This checkbox allows the objective to calculate it's actual value based on the KPI's from its Supporting Objectives.
If you want to use this option make sure the format and tracker type on the required configuration tab have been selected and that the Value Driver or Objective has supporting objectives with the KPI tracker published. If this box is unticked, the next two options will remain greyed out.
- Calculation Method - The objective will be based on either the Sum or the Average of the Target and Actual values of the Supporting objectives.
- Supporting Objectives - Select which Supporting Objectives are inherited from. If using the Average Calculation Method you can weight the importance of each supporting objective by enabling the "Enable weighted average" checkbox.
Remember Save will store any changes made to the tracker configuration but until published, no actual results can be entered. Once you are ready to use your tracker remember to Save and publish.