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Performance Management - Item Rating Calculation using Fast Formula

Summary:

We have a requirement to calculate the Competency Rating (item rating)based on the Desired Rating and the Manager Rating.

We have an option to choose the "Calculation Rule for section" as "Fast Formula" under the navigation

My Client Groups->Performance->Performance Templates->Structure->Competencies→ Calculation Rules

Can we use this option to calculate the rating for each item (competencies) or this can be used to calculate only the Section Rating not the item Rating. If yes how can we verify/view the calculated item rating against each competency.

Please recommend your ideas.

Content (please ensure you mask any confidential information):

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