This provides an early warning of issues around the meeting of Targets.
This enables the ability to meet future targets to be forecast in advance, based on:
- The value of targets, in different categories and dates on which they are expected.
- The status of Initiatives that are expected to contribute to them (progress) and the value of their contribution.
 

1. DATA SET-UP

 

1a. Objectives

Add the details of this objective.
 
Owner:                          Who has been targeted with delivering this Objective? E.g. Peter Piper. These are selected from Settings > Contacts.
Target Run Rate:         What is the value of the yearly benefit needed? E.g. 180,000.
Planned Start Event: From when is the Target Run Rate benefit value expected to be reached by? E.g. From August 2025. Events are managed under
     Settings > Advanced > Events. Select the name of the Event and the dates will be automatically populated.
Planned End Event:    When is the Target Run Rate benefit value expected to continue to be achieved until? E.g. To July 2030.
Value Type:                   Which category of value does the Target Run Rate fit into? Is it Carbon or other?
Portfolio:                       Which Portfolio's are in the scope of this Objective? E.g. Is the saving expected from across just the IT Portfolio or many Portfolios?
 
So, we now know that Peter Piper owns an Objective to deliver a benefit of 180,000 carbon tonnes saved per year. To have reached this saving by August 2025 and to sustain it until July 2030. This benefit will be made possible by Initiatives that are just in the IT Portfolio. Any Initiatives not in this Portfolio won't count towards Peter's targets.
 
Peter may have many other objectives. For example, another target of carbon tonnes but for another Portfolio or time period.
Each contact, like Peter, can therefore own many Objectives.
 
 

Value Types

These categories of different Value types are defined in Settings > Advanced > Value Type.
Each Value Type can be allocated a colour, which will be used on the Objective Achievement analysis screen.
Also, you can set if it is for financial values, or not.
 
If the Value Type is financial, then we know that the numbers for all of these financial Value Types can be totalled together.
If the Value Type is not financial, then we know that the numbers for all of these non-financial Value Types can not be totalled together.
 

Portfolios

Portfolios are how you would like to group projects and/or programmes and these Portfolios are defined in Settings > Advanced > Portfolio.
Each Portfolio can be allocated a colour, which will be used on the Objective Achievement analysis screen.
 
  

1b. Measures

We need to understand the benefits expected to be delivered for Peter. The benefits that fit into the both the Value Type and Portfolio that he is interested in.
Where do we find this information and what do we need to setup and maintain it?
 
This is all to do with the Tracking Measures.
When an Initiative is expected to deliver some measurable benefit then a Tracking Measure is created (Prepare for Tracking).
If an Initiative was 'Replace vehicles with electric alternatives' and a Standard Measure was 'Carbon tonnes saved' then these would have a Tracking Measure of 'Carbon tonnes saved for Replace vehicles with electric alternatives'.
 
It is this Tracking Measure that we are interested in.
 
Add the details of this Tracking Measure.
 
Owner:                                           Who is the Owner of the benefit to be delivered? E.g. Peter Piper. Wovex will use to match this with Objectives.
Expected Monthly Benefit:         What is the value of the monthly benefit expected? E.g. 15,000. It is monthly, so 15,000 represents 180,000 per year.
It is Monthly as the Benefit may start to be delivered partway through a year, and end partway through a year.
Planned Start Event:                   From when is the benefit for this Tracking Measure expected to be delivered from? E.g. From March 2025.
Planned End Event:                     When is the benefit value for this Tracking Measure expected to continue to be delivered until? E.g. To December 2031.
Value Type:                                    Which category of value does the Expected Monthly Benefit fit into? E.g. Carbon. Wovex will use to match this with Objectives.
Portfolio:                                        Which Portfolio is in the scope of this Objective? E.g. the IT Portfolio. Wovex will use to match this with Objectives.
Progress:                                       What is the current status of the progress of this Tracking Measure? E.g. It may be 'In Progress', as the Initiative it relates to is in the process of being delivered.
 
So, we now know that Peter Piper owns a Tracking Measure to deliver a monthly benefit of 15,000 carbon tonnes saved per year (180,000 per year). It is expected to start being delivered by March 2025 and to sustain it until December 2031. This Tracking Measure is in the IT Portfolio. It is also 'In Progress' so the Initiative it relates to has been approved and is underway.
 
As this Tracking Measure has Peter Piper as the Owner, a Value Type of 'Carbon' and it is in the 'IT Portfolio, then it is a match with one of Peter's Objectives. Its Progress status is 'In Progress' meaning it will show up in the analysis. It will count towards Peter's targets.
 
As the value expected is 15,000 per month (180,000 per year) then the amount of benefit expected will enable Peter to meet his Objective target.
As the Planned Start Event date is before when Peter needs the benefit, then this benefit will be ready before he needs it. A good thing.
As the Planned End Event date is after when Peter needs the benefit to be sustained until, then this benefit will be sustained after he needs it. A good thing.
As the Progress is not Paused, Stopped or Retired then the value will count towards Peter's achievement of his Objective target. A good thing.
 
These are however only planned and expected values so areas like the Delivery Status screen will help understand the risk of this not happening.
A very useful area for regular reviews of the expectations to happen.
 
Peter may own other Tracking Measures expected to deliver Carbon Savings in the IT Portfolio ready for the start date and duration needed. This will provide extra confidence that if something does not go to plan then there is extra benefit due from other sources.
 
Most of its details can be seen and changed in the Delivery Status screen.
 
 

Progress

Progress statuses are useful as they help understand the likelihood of benefits being delivered that Tracking Measures highlight.
They are defined in Settings > Advanced > Progress.
Each Progress be allocated a colour, which will be used on the Objective Achievement analysis screen.
Optionally, there is also a Sort Order, so you can control the position it appears on the Objective Achievement screen i.e the display order on specific table.
 
An example of why Progress statuses are useful is if, for example, for Peter there was one month to go before the benefit value of 15,000 carbon tonnes from the Tracking Measure is expected to be delivered (February 2025) but the Progress status is 'Backlog'. This means that the Initiative related to the Tracking Measure is not yet underway! We can take from this that there is a significant risk that the benefit expected will not be delivered in March 2025 and the Objective target may be missed.
 
The Progress statuses therefore provide an extra check to whether Objective targets are likely to be achieved or not.
Example Progress statuses include:
 
Not Approved: this Tracking Measure has not yet been approved. This can mean that it is awaiting for approval or at least in the early stages of agreement. (Exclude From Objective Planning = true)
Backlog: this has been approved but has not yet started.
In Progress: the Initiative relating to this Tracking Measure is underway.
Delivered: the Initiative has finished but the benefits have yet to materialise.
Realised: the benefits are being delivered. For example, the 15,000 tonnes a month are being saved.
Paused: the Initiative is likely under review and can not be relied upon to continue. (Exclude From Objective Planning = true)
Stopped: The Initiative has stopped and can not be relied upon to restart. (Exclude From Objective Planning = true)
Retired: The Tracking Measure is no longer identifying any benefits to be delivered or that are being delivered. It is useful as a record to keep. (Exclude From Objective Planning = true and Exclude All Planning = true)
 
As mentioned, you can add to and change these and the descriptions are provided to illustrate their potential meaning, but you may have your own descriptions of these which should be used instead.
 
 
There are some extra options available for each Progress status:
 
If Exclude From Objective Planning = selected, then the benefit values won't be included in the analysis.
Example Progress statuses like this are 'Not Approved', 'Stopped' or 'Paused' where there is a risk that the Initiative or Measure for this Tracking Measure may never be restarted again. It therefore makes sense to be cautious and exclude the benefit values for these from the analysis.
 
If Exclude All Planning = selected, then the benefit values won't be included in the analysis.
An example Progress statuses like this is 'Retired' where the Initiative or Measure for this Tracking Measure will never be restarted again. It therefore makes sense to be exclude its benefit values from the analysis.
 
 

1c. Management

An ongoing process needs to be followed to keep, for example, the Target Annual Benefit (on the Objective) and Expected Monthly Benefit (on the Tracking Measures), and the Progress status updated.
This will ensure Objective Achievement analysis is as accurate as possible, so risks and issues to Objective Achievement can be identified and managed.
 
 

1d. Extra Notes

This 180,000 saving is typically called a run-rate, as it's a rate of benefit that is expected to 'run' for many years into the future.
Once the 180,000 saving is reached, then for 2025 the saving is expected, then the same for 2026, and 2027 etc.
 
About Objectives: More formally, Objectives represent the results or effects to be achieved that are a level below a Goal. They enable a Goal to be broken down into more detailed end results. Objectives can be personal targets that you want to see if you or other people are on track to achieve, or not. This is where the Objective Achievement functionality is used and for Peter Piper, this is exactly what they are and so as this area of Wovex is about helping him manage the achievement of his Objectives then is it especially important to him.
 
 
 
 

2. THE OUTPUT

 

Parameters

There are a set of parameters on the screen:
 
Model: You can restrict the analysis to look at data from just one Wovex Model or across all.
Portfolio: Select a specific Portfolio to look at or see all.
Value Type: Select either all values, all Financial value types, all Non-Financial value types or a specific Value Type from either category.
Owner: Select a specific Owner to look at or see all.
Date From/To: These default to one year ahead from the current date. You can change this time window as required.
Drill Down Month: Many of the charts below focus in on a specific months detail, so this can be changed here.
 
Changing these values will automatically cause the screen and data to refresh.
 
 

The Table

The following provides a column for each of the Value types selected. If only the Financial Value Types are selected then a total column is also added.
Target: The sum of all the Objective targets (Target Annual Benefit) for each Value Type.
Realised etc.: A row for each of the Progress statuses that are not  Exclude From Objective Planning = true or Exclude All Planning = true.
          They can be expected to be realised at some point.
Gap: The difference between the Targets and the sum of all the Expected Monthly Benefit values for each Value Type.
           An expected shortfall is in red (and worthy of attention) and a positive result is shown as black text.
Remaining rows: A row for each of the Progress statuses that are Exclude From Objective Planning = true.
          They are included for information only but may not ever be realised. If there is a negative gap then these may be worthy of investigation to understand if
the Initiatives the Tracking Measures relate to can be restarted or approved, and so contribute to the achievement of objectives.
 
 
The above example doesn't have Totals for each of the Progress statuses as there is a mix of financial and non-financial values
 
 
 
The above example does have Totals (far right column) for each of the Progress statuses as they are all financial values
 
 

The Graph - By Progress Status

This graph shows a red line that is the target month by month for the date range, and parameters selected.
This target is from the Objectives, and to achieve these there should be enough value from the Tracking Measures that are of a Progress status of 'Realised' to meet or exceed the red Target line.
 
The bars show the total value each month expected from the Expected Monthly Benefit values from each of the Tracking Measures. These are colour coded to show their current Progress status, to help identify risks and issues.
 
 
 
 
There are two issues to look out for here:
1. That there are not enough Tracking Measures (Initiatives with measured benefits that contribute to the Target) that touch or exceed the target line.
In this case more Initiatives are needed to be on the Backlog, In Progress, Delivered or Realised Progress status.
 
So, do ask, can existing Initiatives either:
a. Contribute more benefit, to increase the numbers?
b. Have there Progress status changed from Not Approved, Stopped or Paused and so be able to contribute?
c. Could have their scope be changed and so deliver benefits for these Objectives, for example, to include changes that deliver Carbon tonnes benefits even though they are not currently planned to do this?
d. Be moved into the required portfolio from elsewhere, or the Owner changed to Peter Piper, for example?
 
Also, are there new Initiatives that could be proposed and started that could contribute to the Targets?
 
This graph therefore provides an early warning of issues around the meeting of Targets.
 
 

The Graph - By Value Types

This graph is the same as the previous one, but showing the Tracking Measure values as bars, colour coded by Value Types.
 
For example, you can see below that the greatest contribution to a financial target is from 'Income Other' benefits.
'Income Margin' benefits are only expected from June 2021.
Also, 'Savings FTE' benefits are expected to end in July 2021.
 
This information can help the Owner of the Objective targets to understand the general flow over time of initiatives and benefits expected that are important to them.
 
 
 

Targets by Objective

 
Using the 'Drill Down Month' date as the selected month, this shows for that month the Target Annual Benefit values for all the applicable Objectives.
This helps understand for any particular month what is expected.
 
 

Progress & Drill Down to Measures

 
Using the 'Drill Down Month' date as the selected month, this shows for that month the expected the Expected Monthly Benefit values for all the applicable Tracking Measures, by Progress status. Select a Progress status to see a different pie chart showing all the Tracking Measures for it.
This helps understand for any particular month what is expected to contribute to the Target, by Progress status. For example, Peter Piper can drilldown into the Backlog area to see the Tracking Measures that he can investigate to see which are not in progress, and what is happening for them.
 
 
 

Value & Drill Down to Measures

 
Using the 'Drill Down Month' date as the selected month, this shows for that month the expected the Expected Monthly Benefit values for all the applicable Tracking Measures, by Value Type. Select a Value Type to see a different pie chart showing all the Tracking Measures for it.
This helps understand for any particular month what is expected to contribute to the Target, by Value Type. For example, Peter Piper can drilldown into the Income Other area to see the Tracking Measures that he can investigate to see which are contributing to this, and by how much.
 
 
 

Value & Drill Down to Progress

 
Using the 'Drill Down Month' date as the selected month, this shows for that month the expected the Expected Monthly Benefit values for all the applicable Tracking Measures, by Value Type. Select a Value Type to see a different pie chart showing the Progress status categories that make this up.
 
This helps understand for any particular month what is expected to contribute to the Target, by Value Type. For example, Peter Piper can drilldown into the Income Other area to see the Progress statuses so he can understand more about the expected benefit values.
 
 
 

Progress & Drill Down to Value

 
Using the 'Drill Down Month' date as the selected month, this shows for that month the expected the Target Run Rate values for all the applicable Tracking Measures, by Progress status. Select a Progress status to see a different pie chart showing the Value Type categories that make this up.
 
This helps understand for any particular month what is expected to contribute to the Target, by Progress Status. For example, Peter Piper can drilldown into the Backlog area to see the Value Types so he can understand more about the expected benefit values.
 
 

Extra Notes

The 'panels' that make up this screen can me dragged around into different positions. For example, if you wanted to take a screen copy then you can rearrange the screen to suit your needs. All changes are temporary and the default positions of each panel will be reset when the screen is refreshed.