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PMI Index calculation updates for 2024

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Enhancements to the PMI adoption index calculation methodology will be released on January 2nd, 2024.  

These changes are designed to better align the index with its primary objective: addressing the crucial question, ‘How effectively is my property/department utilizing PMI to optimize resource management and enhance the probability of higher GOP?’ 

 In addition to minor updates and score adjustments, the changes are as follows: 

New measurements: 

  1. Hours alignment improvement: Measures whether scheduled hours alignment with actual activity has improved over the last 6 weeks.  
  2. Live forecast accuracy improvement: Measures whether the Live forecast accuracy has improved over the last 6 weeks.  

    Adjustments to existing measurements: 

    1. Live Forecast accuracy: For a score above 8/10, an error margin of less than 11% is needed. Previously a 20% error margin was allowed.  
    2. Cost driver correlation: Measurement is removed for departments with total revenue as their primary cost driver. 
    3. Monitor Live forecast: Measurement is removed for properties with an automatic import of the Live forecast.