PMI Index

Overview

PMI Index

The PMI Index is presented in the PMI Desktop as a measure of using PMI effectively.

Purpose

PMI Index serves as a performance measurement tool for the property as a whole. It is the benchmark of PMI activity.

Some parts of PMI R&P can be set to automatic update, such as Live Forecast and import of hours to Cockpit. PMI Index is not affected by the fact that some parts of PMI may be on automatic updates.

Main Topic

There are 22 different measures used to calculate the Index. The measurements are divided into the following categories:

  1. Updated
  2. Budget & Forecast
  3. Frequency
  4. Credibility

Updated

1. Is the Rooms Live Forecast for the current month updated?

  • Maximum points awarded, if saved within the last 24 hours.


2. Is the Rooms Live Forecast for the next month updated?

  • Maximum points awarded, if saved within the last 7 days.


3. Is the Live Forecast for the current month updated for all other departments?

  • Maximum points awarded, if saved within the last 5 days.


4. Is the Live Forecast for all other departments updated for the following month?

  • Maximum points awarded, if saved within the last 7 days.


5. Are the Labor Cockpits updated with hours consumed?

  • Maximum points awarded, if the hours for each Cockpit are saved within the last 24 hours.


6. Is there a closing stock entered in the Food Cost Cockpit for the current month?

  • Maximum points awarded, if entered.


7. Are there Actual Hourly Rates in the Labor Cockpits?

  • Maximum points awarded, if entered.


8. Are all of the accounts mapped? (A message will appear in the PMI Desktop, if there are unmapped accounts).

  • Maximum points awarded, if all accounts are mapped out. One or more unmapped accounts offers zero points.

Budget & Forecast

1. Are there budgeted revenues for at least 3 months of the current year for all of the departments?

  • Maximum points awarded, if yes for each department.


2. Are there budgeted hours for at least 3 months of the current year for all of the Cockpits?

  • Maximum points awarded, if yes for each Cockpit.


3. Are the forecasted revenues submitted for each department for at least 3 months within the next 12 months (current + next 11 months)?

  • Maximum points awarded, if yes for each department.


4. Are there forecasted hours for each department for at least 3 months within the next 12 months (current + next 11 months)?

  • Maximum points awarded, if yes for each department.


5. Is there a budgeted hourly rate for each Cockpit?

  • Maximum points awarded, if yes for each Cockpit.


6. Is there a forecasted hourly rate for each Cockpit?

  • Maximum points awarded, if yes for each Cockpit.

Frequency

1. How often is the Rooms Live Forecast updated? This measures how many times you have saved the Live Forecast within the last 5 weeks. The maximum number of saves counted will be 25 (one for each business day), and only one save per day will be counted.

  • Maximum points awarded, if the Live Forecast has been saved 25 times.


2. How often is the Live Forecast for all other departments updated? This measures the number of saves within the last 5 weeks. Maximum saves counted will be 13 (app. one every second working day), and only one save per second working day will be counted.

  • Maximum points awarded, if saved 13 times for each department.


3. How often are the Labor Cockpits updated? This measures the number of saves within the last 5 weeks. Maximum number of saves counted will be 25 (one for each working day), and only one save per day will be counted.

  • Maximum points awarded, if saved 25 times for each department.

Credibility

1. Is the month-end RevPOLU within 10% of the month-end forecasted RevPOLU?

  • Maximum points awarded, if yes. If no, zero points awarded.


2. Is the food cost for the different kitchen credible?

  • Is at least one purchase registered?
  • Is the food cost between 10% – 90% of the food revenue?
  • Is the MTD food cost within 25% of the MTD Forecasted food cost?
  • Maximum points awarded, if yes on all of these. If no for one or more of these, then zero points awarded.


3. Are the budgeted and forecasted revenues credible?

  • PMI measures the forecasted revenues for the current and the next two months, and compares them with the budgeted revenues for the same period.
  • Maximum points awarded, if within 25% of each other.


4. Is the rolling forecast credible?

  • PMI checks the current date, and 7 days from that date by determining if the Live Forecast is within a 10% deviance or less with respect to the Forecast (at the end of the month, PMI checks the next month). The Total Live Forecast is compared with the Total Forecast of the same month. (This can be viewed in the Operational Report, at the bottom right).
  • Maximum points awarded, if within 10% of each other.


5. Are the schedules updated according to targets?

  • PMI checks the current date, and 7 days from that date by determining if the Live Forecast is within a 10% deviance or less with respect to the Forecast (at the end of the month, PMI checks the next month). The Month-end productivity is compared to the forecasted productivity (This can be checked within the productivity graph of the Cockpits).
  • Maximum points awarded, if within 10% of each other.

Was this article helpful?

Related Articles