KPI006 | Condition of class V4.0

Key Performance Indicator

The KPI counts the total number of conditions of class issued by class.

Interpretation	This KPI expresses the company’s efforts to minimize the number of conditions of class. Be aware that all categories of conditions of class are weighted and regarded equally.
Notes	The issue of conditions of class differs between industry sectors and caution should be applied when interpreting this KPI.
Unit	Conditions of class
Scope	Ship level
Calculation period	Quarterly

Formula

[formula]KPI006 = PI023[/formula]

PI023

Number of conditions of class

Ranking calculation example

Step 1: Calculate KPI value

PI023	Number of conditions of class	= 1
[formula] KPI006_{Value} [/formula]	[formula] = PI023 [/formula]	[formula] = 1 [/formula]

Step 2: Calculate percentile rank by comparing KPI value against other ships with the same criteria. We assume that another 99 (100 in total) participate in the ranking with the same criteria and our ship has position 33 and you are the only ship in that rank.

Step 3: Calculate the percentile rank by capturing the count of all participant below your rank (cl). The frequency of ships in your same rank (fi). The total number of ships in the ranking segment (N).

[formula] KPI006_{Percentile Ranking} = \frac{cl+05*fi}{N} * 100 = \frac{67+0.5*1}{100} * 100 = 67.50 [/formula]

Interpretation: Based on the above example, we could say that, when it comes to KPI006 Condition of class, this ship belongs in the 67.50th percentile of the ships that are being compared with based on its ranking criteria in the respective quarter.

External references

As per IACS definition of conditions of class.