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Wave Success Center by McKinsey

Add Impacts to an Initiative

Impacts are quantitative financial improvements that are achieved as a result of implementing an initiative. Impacts are tied to financial metrics and also to an area of the business where the impact applies. Depending on the current stage of the initiative, impacts are entered into three series: Planned, Actual, and Forecast. Please note that the examples below may vary from your company's configuration of Wave, 

Step-by-Step Instructions

1. In the workspace, find and open your initiative and click on Impact Tracking in the options list on the left hand side of the box. Click on + ADD IMPACT.

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2. When a new impact has been opened, certain fields must be completed; these will vary based on your configuration. In the following example, the impact is assigned an Impact typeMetric, and Allocation area by using the dropdown menus that appear in each column.

You may choose to have impacts added manually (e.g. one month at a time) or by auto-fill, where a single entry is copied across the remaining months. All impacts are designated auto-fill by default.

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3. Once all of the required fields are completed, click the orange Create button at the bottom of the card. The impact line will receive its own ID number and you will see the Version assigned as Plan, often referred to as Target. 

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Time Scale Options

The example above featured impacts added monthly, but, depending on how your instance of Wave is configured, you can change your impact's time scale to yearly or quarterly (or another set time period as determined by your company). Simply choose the time scale from the drop down at the top of your list of impacts. 

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Read on to learn more about entering planned values to impacts.

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