How do I set up budget targets?

There are several ways to use our Metric Tracking capability to track your budget. Evaluate the following scenarios and see which one applies to your budget. 

Increase, Begin at Zero:

  • Example Scenario: You are trying to increase the amount of revenue or customers during your new plan. Your count will begin at zero when you start monitoring your progress.
  • Fields Selected: Intention = Increase, Methodology = Begin at zero towards a target
  • Baseline: You may decide you want to measure your progress against historical data, if that is the case, then you will enter a number in the Baseline field. Otherwise, you can enter 0.
  • Status Lights: Will be green when you are exceeding the estimated progress you should be making to hit your Target.

Increase, Begin at Baseline:

  • Example Scenario: You are trying to improve your customer satisfaction rating. You will begin measuring your progress from your current satisfaction numbers.
  • Fields selected: Intention = Decrease, Methodology = Begin at baseline towards a target
  • Baseline: You will enter your starting point as your Baseline.
  • Status Lights: Will be green when you are exceeding the estimated progress you should be making to hit your Target.

Decrease, Begin at Zero:

  • Example Scenario: You are trying to decrease the amount of money spent on a particular department. Your count begins at zero when you starting monitoring your progress.
  • Fields Selected: Intention = Decrease, Methodology = Begin at zero towards a target
  • Baseline: You may decide you want to measure your progress against historical data, if that is the case, then you will enter a number in the Baseline field. Otherwise, you can enter 0.
  • Status Lights: Will be green when you are exceeding the estimated progress you should be making to hit your Target.

Decrease, Begin at Baseline:

  • Example Scenario: You are trying to decrease average % of defects in your department. You will begin measuring your progress from your current error rates.
  • Fields selected: Intention = Decrease, Methodology = Begin at baseline towards a target
  • Baseline: You will enter your starting point as your Baseline.
  • Status Lights: Will be green when you are exceeding the estimated progress you should be making to hit your Target.

Maintain, Begin at Zero:

  • Example Scenario: You may want to maintain a budget for your department where if you spend less than budgeted that is acceptable. Your count will begin at zero when you start monitoring your progress.
  • Fields Selected: Intention = Maintain, Methodology = Begin at zero towards a target
  • The tool will estimate how far along you should be with your spending to stay within budget during the year.
  • Status Lights: Will be green when you are staying within the estimated progress you should be making to maintain between YTD-Baseline and YTD-Target.

Maintain, Begin at Baseline:

  • Example Scenario: You may want to stay within an exact range throughout the entire plan.
  • Fields Selected: Intention = Maintain, Methodology = Begin at baseline towards a target
  • Status Lights: Will be green if you are between Baseline and Target.
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