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How to link KPI targets to a cockpit

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ByRiana Hulsman
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What is its purpose?

Key performance indicators (KPIs) can be used to track your performance, as an alternative to using a budget. By comparing KPIs to actual results and the Live forecast, you can see if you are on or behind pace to reach your yearly goal. 

Linking KPIs to the cockpits allows you to daily monitor how you are pacing, so you can make adjustments to stay on track. 

 

 

Yearly productivity and hours targets can be compared to actuals in real-time. 

 

How to link KPIs

For targets to be displayed in the cockpit, the Key Performance Indicator (KPI) first needs to be linked to each cockpit. This can be done in the KPI module, under Settings: 

Setting the Key Performance Indicators (KPIs) at the chain level ensures consistency and uniformity across all properties. Only in the case where a property differs from the chain standard, should the KPIs be disconnected at the property level. This approach is regarded as PMI best practice.  

Select a KPI

It’s important to know whether the department is locked on hours or productivity. At chain level, you will need to set a KPI for both hours and productivity. On property level, there is a column indicating which target is locked for each department.  

The locked target will impact which target in the cockpit will be linked to KPIs and which one will be recalculated. All cost drivers are calculated based on actuals plus the last submitted forecast.  

Target locked on hours 

When the target is locked on hours there are three KPIs that can be selected:  

  1. Hours per day 
  2. Hours per working day 
  3. Hours per FTE 

      These KPIs are either daily values or hours values and must be translated to yearly values to be displayed in the cockpit.  

      To get yearly values:  

      1. Hours per day is multiplied by the days in the year (365).  
      2. Hours per working day is multiplied by the working days as per the FTE module 
      3. Hours per FTE is multiplied by working days/month and working hours per day 

      Target locked on productivity

      When choosing a KPI for a department locked on productivity, the KPI selected should have the cost driver for that department as the numerator. 

      For example, for Housekeeping, where the primary cost driver is Room nights (previous day), then the KPI selected should be:

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