Overview
You'll see the term "Projected" all the time throughout Parallax showing what happened in the past combined with what should happen in the future - but there is an important decision that is to be made that affects the calculations you see. Here we'll talk about Projected Calculations - what it means and how it's used.
| What does it do? | Check out this section for what Projected Calculations actually affects and why it's relevant. |
| Here, we'll cover the Current Day setting, and the pros and cons of using this projected calculation. | |
| Last Week |
We’ll cover the Last Week setting and the benefits of selecting this projection calculation. |
What does it do?
In short, this Setting tells Parallax the cut-off between the Past and the Future.
This primarily affects Projected and Remaining Data, since this data changes over time:
- Remaining - Total Allocations that are just in the Future.
- Projected - The sum of (Past) Actuals and Remaining.
Both of these Data sets need a definition of when the Future becomes the Past - enter the Projected Calculations Setting. By updating this Setting, you tell Parallax when you consider your Actuals finalized, so they can be included in calculations. While this may seem obvious, if your People aren't submitting their timesheets every day, this setting gives you the flexibility to build in a buffer of time.
Current Day
Current Day is the default setting, and provides Projected data that is based on currently submitted Actuals in close to real-time. The positive of this is that you're getting the most up-to-date projections from the Data within your Shaper - reports such as Insights will include Actuals from today and will treat the cutoff for Projected data as today. However, this can cause some bumpiness with projections if People aren't submitting their hours in a timely fashion, since your data will change in close to real time.
In short, Current Day means your the formula for Projected Data = Actuals (Past through Today*) + Plans (Tomorrow and beyond).*
*Parallax Tip - Cut-Off is at the End of Today
Remember, with this Setting, Plans start at the beginning Tomorrow. That means each Day starts with 0h Actuals, then builds up until the end of the day - you'll get the most accurate data once everyone has their Actuals submitted.
Last Week
Since People are often expected to submit timesheets weekly, the Last Week setting is recommended to align with that cadence. Selecting the Last Week setting aligns with that buffer for People to submit their timesheets before they begin to impact projections. While Actuals will always be added to the Shaper in real-time, using Last Week will project Actuals throughout Parallax up to the previous week, and treats the previous Sunday as the cutoff point for using Past Actuals in your Projected data.
In short, Last Week means your formula for Projected Data = Actuals (Past through Last Week) + Plans (This Week and beyond).
Both are great options and we recommend that you just stay aware of your choice so you understand where your projections are coming from - and always feel free to reach out to your CSM for help determining which is right for your business!