OKRs (Objectives and Key Results) are a performance management framework designed to encourage companies to establish, communicate, and monitor overall organizational goals and results. The framework is intended to be transparent and to align business, team, and individual objectives in a hierarchical and measurable way.
Objectives and Key Results(OKRs) help set measurable, high-level goals for your company by setting ambitious goals and results that can be tracked throughout the quarter. If your initiatives don't have the desired effect on the respective key outcomes, you may need to rethink the work you'll need to do to drive progress toward those key results.
The OKR can be considered an extension of the MBO that focuses on measuring the results of the objectives using the key results. 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. Once you have established your goal, the next step is to create key results that define and communicate what it means to achieve your goal and to know if you are close to achieving it or not. Google's scoring method provides more detail and uses a percentage scale (from 0.0 to 1.0) to assign each key result a numerical score at the end of the cycle.
If you regularly check your key results, you can decide if your initiatives have yielded the desired results or not. OKRs comprise an objective (a significant, concrete and clearly defined objective) and 3 to 5 key outcomes (measurable success criteria used to track the achievement of that objective). After setting your goals, you'll track the progress of each key result individually and review them frequently throughout the quarter. Ask yourself and your team if your goals were ambitious enough, if the key results could be measured, if the OKRs hadn't been taken into account, if they were still aligned with the business strategy, and if the organization felt interested in achieving the OKRs.
Objectives and Key Results (OKRs) are a goal-setting framework used by individuals, teams, and organizations to define measurable objectives and track their results. Other key differences between MBOs and OKRs are that the latter are quarterly, not annual, and are separate from compensation. Now it's about defining the tasks, projects and pending tasks of the initiative that will help you get the most out of the key results. Reserve the second cycle to explore the best way to scale the program, the results, not the results: write key results that mainly reflect the results (results) and not the results (the amount of work done).
OKRs aren't everything. Write OKRs that reflect the areas most important to achieve measurable progress, rather than trying to reflect everything you do. It involves setting specific, measurable, achievable, relevant, time-bound goals (objectives) and identifying the most important metrics or milestones (key results) that will indicate progress toward achieving those goals. Objectives should not only be meaningful, concrete, and clearly defined, but they should also serve as inspiration for the person, team, or organization working to achieve them.