When multiple outcomes contribute to a Benefit, Amplify can be set up to create an advanced way of Benefit creation, which involves using multiple measures to determine whether or not a benefit is realised. Within an advanced Measure, you define its Future Value or Mode of Operation [FMO] and Current Mode of Operation[CMO]. The CMO is set as 0 by default. You can generate CMO values, if required, using configuration settings. Planned Benefit is calculated as the difference between FMO and CMO.
Note: FMO is replaced by Plan if the measure is simple.
To configure the benefit calculation using multiple measures:
- Navigate to Administration > Classifications.
- Locate your benefit classification type and click Edit.
- Scroll down to Calculation of the Benefit Plan.
- Select Benefit Formula toggle to turn it on.
- Specify the required configuration settings.
- You can view all existing or shared measures or create a new measure using the respective buttons.
- Enable Record Actuals toggle ensures that at least one actual value is recorded for each period. Record Actuals widget displays on the owner's Personal dashboard prompting them to record actuals.
- The Current Mode of Operation will be 0 unless Advanced Measure toggle is selected. Select this if you want CMO values to be generated. You can use a default method to generate CMO and specify an initial CMO value.
- With Advanced Measure toggled on, you can also select a default method to generate FMO and specify an initial CMO value.
- Formula Input field is where you can enter the formula for calculating benefit.
- Click Save to save the settings.
Where Measures have not been created for this benefit, you click on the New Measure button .
The Create a New Measure dashboard contains all the relevant inputs a user will need to implement a Measure in just one step.
It can be accessed via the Plan tab on a Benefit Dashboard, by clicking on the New Measure button.
To add the Measure:
- Enter a short Description of what you will be measuring. This description is going to be the name of this measure.
- Describe the Source of Data to be measured. This is important when actuals are recorded as it ensures that the actuals are recorded using data from the correct source.
- Enter the Name of a user responsible for entering the measurements (actuals) in the Measurement Owner field.
- Select the Unit of Measurement from the list.
- Select the Resolution of the measure.
- Select the Current Mode of Operation type you would like to use for this measure. This can be either Indexed, Target, Linear, or Constant.
- Enter an Initial and Target value for the CMO.
- Repeat this step for the Future Mode of Operation (FMO).
- Select a Notification period that suits your organisation. This will prompt the Measure owner when to record a measure, and when a Measure is overdue.
- Select a Measure Start Date and Measure End Date, if required.
- Click Save to create the advanced measure.
All current Measures associated with this Benefit are listed under the chart in the Plan tab. You can modify the formula for benefit calculation, or adjust the values captured against each measure using the buttons available on this interface.