One of five ideas in a series I wrote a year ago:
An idea I have implemented recently in NetCore for some of the business lines is the concept of Projected Score and Required Run Rate. It borrows from the cricket ODI and T-20 matches. An example will help explain.
Let’s say in the first 10 days of the month, we have generated Rs 15L in revenue. Then, the Projected Score for the month is Rs 45L. Now, if the target for the month was 60L, then the Required Run Rate to achieve that is (60-15)/20 days left = Rs 2.25L, vs a Current Run Rate of 15L/10 = 1.5L.
These numbers monitored daily give more predictability to what one can achieve in the month, and also shows the gap between target and current run rate. Based on that, one also can get an idea of the push required to achieve the target.
