Create new target form

  • Release version: Xanadu
  • Updated August 1, 2024
  • 2 minutes to read
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    Summary of Create new target form

    The Create new target form enables ServiceNow customers to define quantitative or qualitative targets for tracking progress against specific goals. This form helps manage goal achievement by specifying detailed attributes such as progress, status, and impact, facilitating effective monitoring and management of targets within your organization.

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    Key Features

    • Name and Description: Assign a clear name and description for each target to identify and explain its purpose.
    • Goal Association: Link the target directly to the relevant goal it supports.
    • State Management: Track the target's lifecycle with states such as Draft, In Progress, Approved, Complete, Pending, Achieved, or Not Achieved.
    • Progress Calculation: Automatically calculates the percentage completion of the target based on the target type (Maximize or Minimize), using defined formulas that consider actual, base, and target values.
    • Status Indicators: Use traffic light colors (Green, Yellow, Red) to quickly assess whether the target is on track, needs improvement, or requires immediate attention.
    • Impact on Goal: Optionally quantify the target’s importance to its parent goal with values from No impact to Maximum, available when weighted averages are enabled via system property.
    • Ownership and Contributors: Define the owner responsible for the target and add contributors who assist in achieving it.
    • Duration Management: Specify start and end dates for the target, defaulting to the current quarter for convenience.
    • Metrics Configuration: Define measurement units, base value (current state), actual value (updated progress), target value, and type of target (Maximize or Minimize) to establish the direction and scale of the target.
    • Review Frequency and Remarks: Set how often the actual value is updated and provide remarks for business justification during updates to maintain accountability and clarity.
    • Review Date: Schedule target reviews to ensure timely progress assessments.

    Practical Application

    ServiceNow customers can use this form to systematically create and manage targets aligned with their strategic goals. The automatic progress calculations and status indicators provide real-time insights into target achievement, enabling proactive management. Impact weighting facilitates prioritization of targets based on their influence on overall goals, while ownership and contributor fields support collaborative efforts.

    By setting review frequencies and dates, customers ensure regular updates and validations of target status, fostering continuous performance tracking and improvement.

    Use the Create new target form to create a quantitative or qualitative target for your goal.

    Table 1. Create new target form fields
    Field Description
    Name Name of the target.
    Goal Goal that this target tracks.
    Description Description of the target.
    State The state of the target. The available options are:
    • Draft
    • In Progress
    • Approved
    • Complete
    • Pending
    • Achieved
    • Not Achieved
    Progress Percentage of target that is complete. This value is calculated automatically.

    If the Type field is set to Maximize, then the progress value is calculated using the following formula.

    Progress = (Actual value - Base value) / (Target value - Base value) x 100

    If the Type field is set to Minimize, then the progress value is calculated using the following formula.

    Progress = (Actual value - Target value) / (Base value - Target value) x 100
    Status
    Status to indicate the target progress. The available options are:
    • Green: Indicates that the target is on track.
    • Yellow: Indicates that the target needs improvement.
    • Red: Indicates that the target needs immediate attention.
    Impact on goal

    A numerical value that represents the importance of this target to its parent goal. By default, the value is (1) Neutral.

    The available options are:
    • (0) No impact
    • (1) Neutral
    • (2) Moderate
    • (3) High
    • (4) Very high
    • (5) Maximum
    Note:
    This field is available only when the sn_gf.weighted_average_enabled system property is set to Yes.
    Owner Owner of the target.
    Contributors Users who contribute to achieving the target.
    Table 2. Duration section form fields
    Field Description
    Start date Start date for the target. By default, the start date of the current quarter is populated.
    End date End date for the target. By default, the end date of the current quarter is populated.
    Table 3. Metrics section form fields
    Field Description
    Unit of measure Measure type for the specified value. The available measure types are stored in the Units [sn_gf_units] table.
    Base value Base value of the target. The base value can also be considered as the present or current value.
    Actual value Actual value of the target at a given time. This field is available only when the Type field is set to Maximize or Minimize.
    Type Target type that shows the direction of achievement. The available options are:
    • Maximize: The direction of the progress is toward the Target value from the Base value. The base value must be less than the target value.
    • Minimize: The direction of the progress is toward the Target value from the Base value. The target value must be less than the base value.
    Target value Target value of the target. This value is the goal that your team wants to reach. This field is available only when the Type field is set to Maximize or Minimize.
    Review frequency Option to specify how frequently should the owner or contributor be updating the actual value of the target.
    The available options are:
    • Daily
    • Weekly
    • Fortnightly
    • Monthly
    • Quarterly
    • Yearly
    Remark Remark entered for business justification when updating the target.
    Review date The date on which the target is to be reviewed.