Create new target form

  • Release version: Washingtondc
  • Updated August 1, 2024
  • 2 minutes to read
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    Summary of Create New Target Form

    The Create New Target Form within the Application Portfolio Management's Enterprise Architecture Workspace enables users to establish quantitative or qualitative targets aligned with their goals. This tool is essential for tracking progress and defining the importance of targets in relation to specific objectives.

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    Key Features

    • Name: Designate a name for the target.
    • Goal: Specify the goal that the target is intended to track.
    • Description: Provide a description detailing the target's purpose.
    • State: Select the current state of the target from options like Draft, In Progress, Approved, etc.
    • Progress: Automatically calculated percentage of target completion based on defined formulas for maximizing or minimizing targets.
    • Status: Indicates target progress with color-coded options (Green, Yellow, Red).
    • Impact on Goal: Assign a numerical importance value to the target, adjustable based on system property settings.
    • Owner & Contributors: Identify the owner of the target and any contributors involved.
    • Duration: Set the Start and End dates for the target, automatically populated to current quarter dates.
    • Metrics: Define the Unit of Measure, Base Value, Actual Value, Type (Maximize/Minimize), Target Value, Review Frequency, Remark, and Review Date related to the target.

    Key Outcomes

    Using this form, ServiceNow customers can effectively create and manage targets that provide clear visibility into their progress towards goals. This structured approach not only aids in performance tracking but also ensures that targets are measurable and aligned with enterprise objectives, ultimately driving better decision-making and resource allocation.

    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.