This chapter describes how to make a Live Forecast/Weekly Forecast in Planning at any time.
This functionality may be used when requirements exists to produce a weekly P&L forecast in addition to a monthly P&L forecast that is the standard best practice routine in PMI. Live Forecasts revenue figures from R&P (last saved not submitted) will be used and in addition a way to calculate labour cost will be chosen upon activation.
GM, HOD and Business Controllers
User rights to work in planning
The hotel needs to contact d2o support to activate this function.
When activated there will be some changes inside of Planning. This feature is bringing in what ever is saved in the Revenue Live Forecast in PMI R&P into Planning.
All revenue that is connected to PMI R&P will be updated with the saved Live Forecast from PMI R&P.
All costs that are calculated out of any other information in Planning or connection to R&P revenue forecast with a formula will be recalculated with the new information from Live Forecast.
Cost that is not connected to any formula but added manually will be copied from WIP Forecast.
There are 3 options for calculating Labour Cost. One of the three alternatives below is chosen upon activation and applicable for the entire PMI property.
- Adjusted for Activity – set calculations is done for each cockpit deciding how the hours should be affected by an increase or decrease in the cockpits cost driver with a percentage ratio. If you wish to alter the percentage at a later stage, this needs to be done by d2o support.
- Cockpit Live Forecast – Cockpit Live Forecast hours(also shown as cockpit target hours in schedule module) are multiplied with the rate in the cockpit and this sum is added to the account under Labour cost that is connected to the Staff Module for WiP Forecast. Remember to always keep the rates updated!
- WIP Forecast – no changes to Labour cost is done, a copy of the WIP forecast is added to the Live Forecast column.
Number 2 or 3 are recommended as best practice to be used.
You cannot change the Live Forecast figures in Planning, all changes needs to be done at the source, i.e. the revenue must be changed in PMI R&P Live Forecast. Labour cost must be changed either in Cockpit or in WIP Forecast, depending on choice made above.
To create the Live Forecast, that can be done at any time, please find “Create Live Forecast” in the Tools menu.
Once selected, another tool will appear where you choose what date range to create the Live Forecast for and also for what group or property(how many properties you see is user right based). You may also choose “All”.
There is no “live” connection between PMI R&P Live Forecast and PMI Planning – thus this exercise needs to be done every time you want a new Live Forecast in PMI Planning.
If choice 2 in calculating Labour cost is chosen please note the below that must be completed as part of you monthly routines to add the correct rate into the cockpits.
After the forecast is done in PMI Planning Staff module the rate has to be sent back to the cockpit. Under Tools in the Staff Module you make the choice below:
In view options there is a change so Actual also includes Live Forecast for the current and coming month.
In Reports you will also see Live Forecast for current month and Actuals for past month when choosing “Actual”
Before you proceed with calculating a Live Forecast in Planning be sure to have all Live Forecast saved in PMI R&P.