Other Budget and Forecast

Summary

This section displays how to handle and maintain your budgets and monthly forecasts for departments other than Rooms. Please see Room Budget and Forecast regarding Rooms.

Intended Users

PMI Profit and Cockpit Owners

Instructions

Depending on what department you are looking at, there are different views and options. Both the Tools menu and the View Options menu will vary. Please see under Tools and View Options below.

  1. The view is divided into different columns. All departments have Month, Cost Driver, Productivity, Hours and Rates. You may have a Revenue column however this is not for all departments. Last year’s hours are calculated using the SMART calculation.
  2. Under each column, you can view what you have selected. You can select this in the View Options menu. Please see instructions below under View Options.
  3. You can adjust the Budget and Forecast directly in this module. It is recommended that you use the Live Forecast Module when calculating and submitting the Forecast.
  4. You may choose what period to view by using the date picker and you may alternate to see months or years.
Budget.JPG

Food & Beverage Outlets

There is a possibility to activate Food Revenue in the outlets. Food Revenue has always been calculated in the respective kitchen, however now the calculation can be done per outlet. Especially if you have segments in the outlet you will now see the calculation of food revenue per segment.

By setting the cost driver in kitchen with the correct outlet you are able to connect several kitchens to the correct food revenue. Please see Cost Driver Tab in Cockpit.

Depending on the setting in Live Forecast for the specific outlet, the food revenue is calculated out of the total revenue. There are 3 ways to calculate this, based on last year info, percentage or number of days back in the past. Please see Live Forecast.

The calculation (A) is done as soon as the revenues are updated in the revenue column (B). You may click on the calculator to enter an amount manually and the symbol will then change to a hand.

Food Cost 5.jpg

Tools

Tools Budget and forecast.PNG
  1. Submit Several – This is one way to submit your Live Forecast to Forecast; you can also do it from the Live Forecast module.
Submit Several.PNG
  1. Cost Driver – This is where you set the cost driver, i.e. what drives your labor hours, for a specific department. This may vary from department to department. Housekeeping has Room Nights (previous day) as the cost driver, while Kitchen would have Food Revenue as the cost driver. One department may have several cost drivers. The Cost Driver is usually set in the start up phase and not changed.
Cost Driver.PNG
  1. Revenue Driver – A factor that causes a change in the forecast revenue for the department; i.e. what drives the revenue. For example, Breakfast – Guest Nights (previous day). More staying guests typically increase breakfast revenue. Or Minibar – Room Nights. An empty room does not generate any minibar revenue.
Revenue Driver 4.PNG
  1. Export – You can export to Excel or PDF.
  2. Settings – Here you have different choices depending on what department you are dealing with. Basically, it depends on whether the department has revenue or not. Please read more about these settings under Room Budget and Forecast.
Settings Budget and forecast.PNG

View Options

You may choose to see Budget, Forecast, Actual and Last Year in the View Options. Under Kitchen Cockpit you may also change how to view the Food Cost column.

View Option - Budget and Forecast.PNG

Recommendations

It is highly recommended that you work with Live Forecast module and do all calculations and forecasting there. Then submit it to Forecast at the end of every month.

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