The new PMI Index is designed to give you a better indication of how you are performing. Each department is measured separately on level of activity, accuracy, schedule alignment and completeness. With the new and improved index you can easily break down the cockpits and revenue centers to pin point where there is room for improvement.
In left top corner you will find selected property (1a) and to the right you may select Month or Week View (0).
How to read the index
1a – Select property
1b – Current week with trend indicator based on last week, Last year and Peer average with trend indicator are displayed
2 – The chart displays the last 10 months backward-looking for actual and peers, and 2 months forward-looking (rolling) with Last year (2a)
All history PMI index values is the monthly average for the property.
3 to 6 – The variable column chart displays applicable practices (3). This could vary depending on what is chosen (1a) or (4c)
If the number of departments can’t be fitted in one window, there is an arrow pointing to the right that you will click to roll.
When a user click on a bar (3a), the Improve your game! text-box will show the applicable text (5)
This release does not include PiA routines yet – just a static text-box as shown (6)
3 – The Revenue Driver and Cost Driver in 3 are only available to d2o.
4 – The variable column chart is shown – each bar representing a department where length represents the score and width represents the impact that department have of the total index.
The weight is calculated as below:
- Cockpit only – the weight is calculated based on how many hours that department use of all hours used at the hotel
- Profit Center only – the weight is calculated based on what revenue share of total revenue this profit center have
- Combined cockpit and profit center – the weight is a mix of the two calculations above
The smiley is either red, blue or green.
Logic for triggering smiley face:
Green Smiley – if current week > Peer average and Last year
Blue Smiley – if current week > either Peer average or Last year
RED Smiley – if current week less than both Peer average and Last year
What is Measured?
How regularly are you viewing and using PMI? How often do you review and update your area of responsibility? It is perceived that by opening and viewing the different modules, you are paying attention to past and future to make the necessary adjustments.
- How many days has the cockpit been viewed the last 28 days
- How many active users over the last 10 days (number of users who have logged in)
- In percent, how many of the active users have been active over the last 7 days? Active users the last 7 days, divided by active users the last 60 days.
- How many times have LF forecast been updated the last 14 days? If the property has an automatic daily import and revenue driver, the live forecast is automatically updated and saved.
- How many times have LF been saved? This means manually saved. Only valid if the live forecast has not activated automatic update and save – which the majority of the hotels have.
- How many days the LF has been viewed the last 28 days?
- How many times the cockpit has been saved the last 14 days?
- How many times has the P&L been viewed the last 31 days?
- How many times has forecast WiP been updated the last 31days?
Live Forecast Accuracy – per revenue center
How accurate is your rolling forecast? Are you learning and getting better at your daily forecast? Are you consistently over- or under-forecasting rather than trying to be accurate?
- Accuracy: Finding average daily deviation between actual result and live forecast – calculated on 7, 14, 28 and 90 days lead time.
- Forecasting bias: Examines the presence of live forecasting bias, i.e. are you consistently over- or underestimating results?
- Improvement: Builds a trend line over the last 6 weeks.
Resource Planning Alignment
Measures how well aligned your staffing is with the SMART forecast in departments working on productivity targets, i.e. operational departments like F&B and Rooms. Fixed departments are locked on hours and should be aligned with your hours forecast.
- Adaptability: how well are you adapting your schedules according to changes in operational forecasts, looking 10 days into the future. Are you changing the schedule when the live forecast changes?
- Actual allocation: average daily percentage deviation between actual hours and SMART hours on historic periods, going back up to 60 days.
- Target alignment: Average daily percentage deviation between scheduled and SMART hours on historic periods, this is to check if the actual deviation was caused by inaccurate live forecast (meaning that you scheduled according to what the live forecast did suggest initially)
- Actual alignment: Average daily percentage deviation on scheduled hours versus SMART hours for future periods, up to 10 days ahead?
- Actual allocation bias: Is the schedule consistently above or below the SMART hours? The closer the average deviations are to zero, the higher score.
- There is a budget for the current and 2 following months; compared to LY if applicable. Should be within 75% of LY
- There is a forecast for the current and 2 following months; compared to budget. Should be within 75% of the budget
- There is a Live Forecast for the current and 2 following months; compared to forecast and LY; should be within 75% of both.