The goal is for those who work with budgets to enter next year’s budgets into PMI in a timely and accurate way, with as little effort as possible and following PMI Best Practice. This includes both revenue and cost budgets. There are three ways this can be done....
There are three ways to enter labor costs: In the budget and forecast module, on the far right-hand side of a labor department, you can enter the expected average rate per hour. This will amount to a total labor cost depending on expected/worked hours. You can work...
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...
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...
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...
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...
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...
If direct changes are made to the plan rows, then the whole link to a usage and a price will be broken and we will not be able to prepopulate future plans correctly. The best practice is to change the unit price, if possible. The prices initially shown are estimated...
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How to send in/submit your budget/target or forecast in PMI Planning module. NB! Moved from Submit to Status in tools box. Summary When your budget/target/forecast work is completed and you wish to send in/freeze these figures to become a selectable version in PMI...