Room revenue planning is where you review and update monthly room revenue forecasts and budgets. It replaces the Budget & Forecast page for Room revenue.  The forecast looks at number of room nights, Average Room Rate (ARR) and resulting room revenue. The page provides you with a pre-populated forecast based on existing data available. You...
The budget should be uploaded/entered once a year while the Forecast should be updated every month. Below are some steps on how to update the budget or Forecast: Uploading your budget and Forecast – Upload actuals, budget and forecast is a helpful article for more information. Live Forecast -> Budget: Taking data from the Live forecast...
A good way to set a productivity goal (target) is to use last year as a reference and see if you can achieve similar or better productivity this year. Budget is also a reference, as we don’t want to be less productive than what we have budgeted. This would negatively affect our bottom line, provided the budget is realistic. The forecasted cost...
Some departments (operational) have productivity as their main target, so when the cost driver changes, this will give the department more or fewer hours, depending on the latest Live forecast. Some departments have hours as their main target (admins) so even if activity changes, the expected hours will not change. Under settings in the Cockpit,...
The cost driver is what drives the labor cost/hours in a department. The cost driver is what gives the department work to do. This could be room nights for the housekeeping department or revenue/covers for a restaurant outlet. When hovering the mouse over the figures in the Cost Driver column, the current cost driver will be displayed in the...
When you enter a new month, the forecast/budget will lock for the current month. In most cases, this is a request from your Head Office to avoid accidental or unauthorized changes that conflict with the data submitted to your reporting system (SAP). Your task is now to work with the Live forecast on a daily level to ensure that your departments...
In PMI you can upload your budget, forecast and actual data,. The Upload function is found in the main menu under the Administration column. From the Upload module, you can download an excel template where you enter or copy/paste data from another system and upload directly into PMI.