What it is
Pipeline is open opportunity value — weighted or unweighted — used to forecast future bookings and ARR. It informs outlook; it must not silently rewrite closed-period ARR.
How it’s calculated
Sum open CRM opportunities (often × stage probability). Finance should know whether pipeline is ACV, ARR, or “something sales typed,” and which stages are included.
Where it breaks
Pipeline breaks with zombie opportunities, inconsistent amount fields, and double-counting renewals vs expansion. It becomes dangerous when someone pastes weighted pipeline into the ARR waterfall.
In the board pack
Keep pipeline on the outlook slide. Certified ARR and the waterfall stay on the actuals spine.
Keep the written definition stable across close, the board pack, and diligence so the same word never means two math models.