Objectives, Key Results, and Initiatives An OKR consists of an objective, which tells you where to go, and a set of key results, which are the measurable results you need to achieve to achieve your goal. Initiatives are the different projects and tasks that will ensure that you achieve your key results. An initiative is an action that must allow us to move towards our goal. Therefore, a key result based on a project can be considered an initiative.
To achieve success in any field, it's important to have a plan and set measurable goals. The Objectives & Key Results (OKR) framework is a popular tool used by companies to create and track progress toward their objectives. OKR (Objectives and Key Results) is an agile framework for setting goals in companies. Used correctly, the OKR method can lead to greater transparency, alignment, focus, and agility in your organization.
This is how John Doerr explained the objectives and key results (OKR) in his book Measure What Matters. While it's a simple concept, the business world is a complex place with many moving parts. However, by adhering to simple principles, great results can be manifested. There are a couple of key points in this definition.
First of all, the goal must be concise and engaging, so that the team can easily remember it. Next, there should be a small number of metrics to track key results. These metrics should be something you can measure in a timely manner. If you can only see the results after two years, it's not possible to review your progress quarterly.
In the following example, we show how to maintain the same objective and specify the key results to track whether improvements are achieved. There can be many different activities done together to achieve the desired goal. It's important to find key results that are primary indicators of your goal, rather than lagging indicators. You want results that can be measured regularly and frequently, and that lead to the overall goal.
Agile development and OKRs go hand in hand perfectly. Agile development has been said to reduce the costs of changing your mind. This is because agile planning requires a regular, planned cadence to check development progress, assess the business context (competition, customer requirements, regulatory requirements, market conditions), and make adjustments based on this information. Clearly communicating objectives and key results provides transparency.
It's important to identify key measurable results so you can check your progress toward your goal. If you establish a key result that can only be measured once a year, you will only have one chance per year to know if your work helps you achieve your goals. As organizations face the increasing pace of change, it's not enough to check progress once a year. Atlassian's Jira Align solution helps connect your business strategy with technical execution.
While OKRs track the results of execution, Jira Align provides a clear view of the objectives, the key outcomes being tracked, and the work to achieve the objectives. The OKR features natively included in Jira Align help your team align, stay aligned, and instantly connect work to value delivery. Once you've established your goal, the next step is to create key outcomes that define and communicate what it means to achieve your goal and whether you're close to your goal or not. Key results are like signs on the road to New York, telling you if you're going in the right direction and how far you are from getting there.
Due to the Corona pandemic and the resulting trend towards more home offices, as well as initiatives for digital and agile transformation, the OKR method can be expected to become the new standard for performance management in companies. Many of Mooncamp's customers link their projects, tasks, or initiatives directly to their respective objectives and key results. For some objectives, it can be quite difficult to get key results based on metrics, so you may have no choice but to include key results based on milestones. If you also want to see examples of key results and objectives, go to the examples directory.
If possible, key results should always include relevant metrics that measure the actual result, not just production. Periodically monitoring your key results will help you decide if your initiatives have yielded the desired results or not. It is often difficult to define key results because the most important and important key performance indicators cannot be directly influenced, and the measures taken in the current quarter may not have an impact on the key performance indicator until the next quarter or the quarter after that. Key results are often formulated as simple activities or to-dos that can be marked; this is also known as results-based.
The key results are specific to this goal and measure whether the website actually works well or not. .