When it comes to setting objectives and key results, it is important to focus on the desired outcome and how success will be measured. Objectives must be actionable, aspirational, and meaningful. OKRs (Objectives and Key Results) is a collaborative goal-setting methodology used by teams and individuals to set ambitious and challenging goals with measurable results. It is a great way to track progress, create alignment, and encourage participation around measurable goals.
OKR stands for “Key Objectives and Outcomes”. It is an agile framework for setting objectives in companies. When used correctly, it can lead to greater transparency, alignment, focus, and agility in your organization. Each objective consists of three to four measurable key outcomes, where each key outcome has a progress indicator or a score of 0-100%.
In addition to setting goals, key results, and initiatives, it is important to conduct weekly OKR checks. This will provide you and the manager in charge of tracking and reviewing your progress with clear expectations of what needs to be achieved at each stage of your work. OKRs are a great way to bridge the gap between strategy and execution and move from a results-based approach to work based on results. There are many OKR tracking tools available for personal goals and smaller teams as well as larger companies.
When writing OKRs, it is important to consider the company's vision and mission statements as an excellent starting point. Each OKR set must incorporate feedback from the organization and undergo multiple checks and drafts. The group's key results should reflect a big change that will be noticed if 70-80% of the goal is achieved. The difference between OKR and Scrum is like the difference between a part and a whole.
Key objectives and results provide a broader framework while Scrum focuses primarily on micromanagement. The company's key results cover broad metrics while the group's key results should measure more granular progress such as sales of a specific product.
