OKRs

Definition

OKRs, Objectives and Key Results, are a simple tool that helps an organisation achieve goals by building specific and measurable actions as well as communicating and monitoring progress toward them.

Objectives define where you want to go. They are short and inspirational. Companies typically create three to five high-level objectives per quarter. Objectives should also be ambitious. While choosing the right objective is one of the most challenging aspects of this practice, when you do it correctly you’ll be able to tell if you have reached the objective.

Key Principles of OKRs

There are several key principles of the OKR goal-management framework, which include:

• Simple and agile: OKRs are typically set monthly or quarterly so that an organisation is nimble enough to respond to changing conditions.
• Creates clarity and alignment within an organisation: OKRs are public. Since they are transparent it helps ensure alignment throughout all levels and departments.
• Bidirectional: OKRs do not cascade from the top to the bottom. The strategic OKRs are set and then each group and individual builds tactical OKRs that align with the strategic OKRs simultaneously. This creates a much more efficient and effective process than cascade goal-setting models.
• Encourages collaboration: OKRs make it easy to understand how every employee in the organisation has a critical role to play in achieving the strategic OKRs. Since everyone is moving forward toward a common objective, it makes it clear that no one can accomplish the ultimate goals alone.

Best Practices

1. It is okay to only achieve 60–70% of OKRs.
2. OKRs are not an employee evaluation tool.
3. Everyone needs to get on board.
4. Process needs to be lightweight.
5. Patience with your organisation as you learn the process.

OKR Examples Simple

Example 1:

O. Achieve fiscal sustainability.

KR1. Reduce the general fund budget variance from 11% to 5%.

KR2. Spend 95% of authorized capital project dollars by the end of the fiscal year.

KR3. Spend 95% of grant dollars for grants from prior fiscal years.

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Example 2:

O. Have more quality family time as measured by:

KR1. Getting home for dinner by 6 pm, 20 nights a month.

KR2. Being present by turning off the internet router to eliminate distractions.

OKR Worksheet

https://coda.io/@johndoerr/measure-what-matters-starter-kit-by-john-doerr/simple-okr-worksheet-47