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Wave Success Center by McKinsey

Impact Tracking

Once you have a sense of what the different implementation levels mean for your initiative, refer to this guide for when, where, and how to enter impacts into the Impact Tracking tab of the initiative card.

Please note that your company's instance of Wave may vary slightly from what you see in the examples below.

L0: Idea

You can enter the planned annualized impact when your initiative is in L0. An initial estimate of the planned annualized impact is typically a requirement in order to submit your initiative for L1. Approvers will be looking to see that the correct impact type, metric, and allocation area have been chosen. Be sure to confirm that the value entered is in the proper unit scale. 

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L1: Identified

Typically in L1, you will be able to begin entering in the monthly planned impact values, as well as revise your initial annualized prediction. 

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L2: Validated

At the L2 stage, you will enter in your planned monthly impact values. If your metric is set to auto-fill, monthly amounts will automatically be copied across your impact as shown in the example below.

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L3: Planned 

At L3, you have officially completed the planning of the initiative and are now moving forward with implementation. Planned impact values are locked down and cannot be edited. The forecast annualized impact can be adjusted as well as the monthly forecast values. Wave will also allow you to begin entering monthly actual values for months in the past, although actual tracking typically does not begin until your initiative has reached L4. You may also enter KPIs under the KPI Tracking tab of your initiative to track delivery of impact.

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L4: Executed

By L4, all implementation milestones should be complete. Actual monthly impacts are entered, and any updates to the forecast impact can be made at this stage.

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L5: Realized

Impact benefits are fully realized or sustained and confirmed by Finance. Actual monthly values for recurring impacts should remain constant over time. 

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