What is initiative in SAP FIN-SEM-CPM - Corporate Performance Monitor?

SAP Term: initiative

• Component: FIN-SEM-CPM

• Component Name: Corporate Performance Monitor

• Description: A number of activities that are used to achieve one or several objectives. An initiative is assigned to a person responsible, a period, or a specific amount of financial resources.

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• Key Concepts: 
  Initiative is a term used in the SAP FIN-SEM-CPM Corporate Performance Monitor (CPM) component. It is a feature that allows users to create and manage projects and activities that are related to their business objectives. Initiatives are used to track progress and measure performance against goals. 
  
  How to use it: 
  Initiatives can be created in the CPM component by selecting the “Create Initiative” option from the main menu. This will open a form where users can enter information about the initiative, such as its name, description, and objectives. Once an initiative is created, users can add tasks and activities related to it, assign resources, and track progress. 
  
  Tips & Tricks: 
  When creating an initiative, it is important to set realistic goals and objectives that can be easily measured. This will help ensure that progress is tracked accurately and that performance is measured accurately. Additionally, it is important to assign resources to initiatives in order to ensure that tasks are completed on time. 
  
  Related Information: 
  The CPM component also includes features such as budgeting, forecasting, and reporting. These features can be used in conjunction with initiatives in order to gain a better understanding of performance and progress. Additionally, initiatives can be linked to other components of SAP such as Human Resources or Supply Chain Management in order to gain a more comprehensive view of performance.