OKRs, or “Key Objectives and Outcomes”, is a collaborative goal-setting methodology used by teams and individuals to set ambitious and challenging goals with measurable results. This rigorous method of targeting and monitoring was invented by Andrew Grove and used at Intel since its early years. It is derived from Peter Drucker's teachings of goal-based management. OKRs are the way to track progress, create alignment, and encourage participation around measurable goals.
The objective defines what the employee wants to achieve and the key results describe how the employee will achieve the goal within a specific time frame. Progress on Key Results should be monitored and discussed weekly to ensure better prioritization of initiatives and continuous alignment within a team. Not only does this help you quickly identify what is working and what isn't, but it also allows you to change course in a new cycle if your group's objectives don't contribute to your company's OKRs. As a standard best practice, many companies are concerned with framing 3 to 5 key outcomes for each goal in order to make it achievable.
Individual and team OKRs express what tactics teams and individuals will implement and what results they will need to achieve to help the organization achieve its long-term objectives. The framework of objectives and key results did not appear suddenly, and other goal management techniques, such as MBO, SMART goals, and KPI, had been used before. When a workplace uses OKR, employees are encouraged to set very high goals and should document progress toward successful completion of key results with backup data. Weekdone is your solution for generating status reports, aligning team OKRs with company level objectives, and viewing your weekly and quarterly progress.
OKR's best software is one that allows you to clearly configure and manage key objectives and outcomes, and create alignment around those measurable objectives.