3.4 Creating, maintaining and updating KPIs
Key performance indicators (KPIs) define a set of values against which to measure the performance of an Objective/Goal/Key Result or an Action. In the Skefto platform, a KPI is designated with the symbol
Creating a KPI
To create a KPI from the KPI overview screen, complete the following steps:
Step 1: Click the “create KPI” button on the top right side of the screen.
Step 2: Complete the KPI pane information.
- Select the relevant Plan from the look up list
- Select an objective/goal/key result from the look up
- Enter the status of the KPI
- Insert KPI description
- Nominate Owner
- Select input method- If manually inserted, select “User Input”. If system generated and integrates with another system, select “Integration”
- Enter a unit of measure. For monetary values insert the currencyEg $AUD. Number of persons, head count etc.
- Enter the result input type. Whether it is an absolute value or a scale eg from 1 to 10
- Insert the Result baseline value. I.e. the most recent result prior to commencing tracking of a KPI
- Nominate members to the KPI by name or position from the lookup facility
- Complete the recurrence of the result. See example below:
Step 3: Repeat is the frequency of providing the result and Every is the time cycle. So 1 Month(s), means once a month. 3 Month(s) is quarterly etc. can use the weekly function if the result is required more than once a month.
Step 4a: If a month is selected, nominate the period end either the “Last day of each period” or “Same day each period”
Step 4b: If a weekly occurrence is selected, then nominate the week commencement day, by clicking the day of the week, from Monday to Sunday options.
Step 5: Select the start of the reporting period of the calendar. The “End of first reporting period” will be automatically calculated by the system.
Step 6: Use the option arrows to nominate “How long after the end of the first period should the first result be captured” and then choose days or months(s) from the look up option.
Step 7: Nominate a recurrence ending date or select never.
Step 8: Click the “Save” icon when the selections are completed.
The Recurrence will now appear on the details screen for the KPI. Eg Every 1 month on the last day of each period.
Enter the result targets
If the target is the same value each period, then do not activate the slide rule.
Step 9a: In “Result is” select “Is Greater or equal to” or “Less or equal to” for one value and for a value over a range, select “Between” and then enter the periodic range and then add the value.
Step 9b: If the value differs for each period, for example the value could be an accumulated value, then activate the slide rule, by moving the ruler to the right. A screen similar to the one below will appear.
The default value targets option can be used here if you want to insert the same value each month or where the same figure appears over many periods and you can change the value of the periods where there is a variation.
If the values differ each period, insert the figures each period by clicking “+ add result target range” and then save your target inputs by clicking on the “Save” icon after all the targets have been entered.
You can set a target and when the criteria is met there will be a green bar showing on the results pane. Another target condition should be set where if it is met will signify a failure and will be designated with a red bar on the results pane.
See example below.
Result is tracking within the target.
Result is tracking outside the required target.
Step 10: Select Business Units/Activities and /or Business Processes
Step 11: Then click save to save all the entries for the KPI.
See below for a completed example:
The newly created KPI will appear on the KPI overview screen. The next steps for the KPI is to complete the Activity, Results and Reviews functions for the KPI.
Select the KPI from the list by clicking on the newly created KPI.
The following KPI pane will appear:
Creating an Activity
Step 12: To create an Activity which includes inserting web links, attaching documents and making comments, refer to the instructions “Adding comments, links and documents”.
The Results tab provides information on the status of results inputs. It will show when the next results input is due and if there are any overdue inputs.
See example below: overdues are in red and future inputs in grey.
Creating reviews for the KPIs
Step 13: Reviews can be scheduled for the KPI by inserting the required details in the “Reviews” tab of the KPI.Click on the schedule review icon.
Step 14: Complete the following information:
- Schedule repeating review. Use this if a recurring review is required. If not, do not activate the slide rule.
- For recurring reviews, insert the number of reviews, and the frequency. Monthly reviews will be “Repeat”- 1 and “Every” months. For quarterly reviews it will be 3. Etc.
- Use look up options for period end determination
- Insert the “start of reporting period”. The decision in Step 2 will automate the end of reporting period.
- Specify the reviewers from the look up options and then the completion dates of the reviews.
- Nominate the completion date of the completion dates of the reviews
- Click “schedule when completed.
Example is shown below.
The below will now display the review for the KPI.
The KPI will be displayed on the KPI overview screen. See example below:
Entering results for a KPI
Step 15: From the KPI overview screen, click on the KPI requiring results input.
Step 16: The next input results period will appear on the KPI details pane. Click the “Enter result” tab.
Step 17: Enter the result and Save.
The last result will now appear on the KPI overview screen as well as the KPI detail pane under the next result reminder.
Under the results, the result input date is now shown as completed and in green. The banner colour is determined by the Result Targets. In this instance green means that the Result has fulfilled the target.
If the result requires to be amended, Click the option icon “…” and revise the result input.