See it all the time, but not totally sure what it means?
Within the Setting section under Customizations there is an important decision that is to be made that affects the calculations you see, Projected Calculations
|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.|
We’ll cover the Last Week setting and the benefits of selecting this projection calculation.
What does it do?
The Data (Hours and Revenue) can be most easily broken down into three categories: the Plans you make, the Actuals that are recorded in timesheets, and the Projected place you'll end up.
Projected is best defined as Past Actuals + Future Plans; it tells you based on what you've achieved in the past, where you'll be if you complete Future Plans. This means the primary job of the Projected Calculation setting is to determine where the past starts and the future begins. While this may seem obvious, if you Employees aren't submitting their timesheets every day, this setting gives you the flexibility to build in a buffer of time.
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 Employees 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).
Since Employees 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 Employees 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!