OKR stands for Objectives and Key Results
OKR is a framework that helps to set up objectives (goals) that really matter for you/company and define concrete measurable steps(key results) to achieve objectives.
It could be used at the corporation/company level or even for your personal life.
Let's dive into it.
OKR was introduced in the 1970s by Andrew Grove and later picked up by such companies as Google, LinkedIn, Zynga, Twitter, Microsoft, GitLab, and many others.
OKR Concepts
Objective.
An objective is a clear statement of what you want to achieve.
Key Results
Measurable success criteria. Their purpose - say if the objective has been achieved or not.
Interesting that framework rules are different for each company and it is a continuous process of self-improvement.
You have to define your framework rules and overview them after some period of time.
Some general requirements(could be customized by your needs):
- Specify Time Period: Quarter/Year
- Define 3-5 high-level objectives for the company(O).
- For each objective define 3-5 measurable results(KRs).
- At the end of the time period, each key result could be 1 or 0.
- Objective is completed when KeyResults rate > 75%
- If the objective was completed by 100% - your objective was not enough ambitious.
Sample 1:
Objective: Enhance your communication with customers
Key Results:
- Host 7 webinars related to your product/service. Ensure that the webinars have at least 50 participants.
- Release 5 new press publications twice a week.
- Create a design book for all your assets
- Increase your community size from 3000 to 5000
Sample 2:
Objective: Get Prepared for the AWS Certification
Key Results:
- Go through the Udemy course
- Read AWS whitepaper documents
- Pass 7 test exams with a rate > 80%
- Complete 20 hands-on labs
Sample 3:
Objective: Lose weight by 10kg
Key results:
- Avoid sugar
- Complete 30 workout sessions at the GYM
- Run/walk 100km/20 hours
Sample 4:
Objective: become a better father for your kids
Key results:
- Take them to a coffee shop, buy their favorite donuts with chocolate
- Go fishing with your son
- Buy an LoL doll for your daughter
- Read an interesting book together
OKR Pros
- Focus on priorities
- Defined steps(roadmap)
- Transparent indicators
- Concentrate company resources on the most valuable goals
When you're starting your working quarter/month/week/day you will always know what your real goals are
OKR Cons
- OKRs should be approved on the company's high level
- Avoid using OKRs as a control Instrument
- To many Objectives will bring a chaos
- Without a global goal - key results are nothing
- Requires activities and time (brainstorming, planning, 1 on 1 check-ins etc )
- Requires company flexibility
How to manage OKRe
1. Intro (Icebreaker)
-make a team meeting/call
-get your team members familiar
2. Define Objectives
- brainstorm objectives
- write down the most valuable
3. Key Results
- brainstorm key results for each objective
- write down the most valuable
4. Overview
Create a diagram/visualization of your objectives and key results.
Best practices
1. Less is more (define a small set)
2. Crawl-walk-run (start from pilot team(s) than scale)
3. Outcomes, not output (focus on Result, not on Amount of delivered work)
4. OKRs are not everything
5. The only way to learn OKRs is to do OKRs.
I wish you to set up ambitious objectives and always reach them!
Find out more about what OKRs we set for each project.