Objectives and Key Results (OKRs)

How does it work?

The framework includes a series of rules that help your team prioritise, align, focus and measure the result of the work they do.

The acronym OKR stands for Objectives and Key Results, a goal management framework that helps teams implement strategies.
An OKR consists of a goal, which defines a goal to be achieved, and up to 5 Key Results, which measure progress towards the goal.

Each OKR also contains Initiatives, or tasks, that describes the work required to drive progress on key results.

The framework includes a series of rules that help your team prioritize, align, focus and measure the result of the work they do. OKR helps entire organizations communicate strategy to the team practically and measurably.

It also helps organizations move to a results-based approach to work.

Mission.

“Why do we want to do this?” The main purpose of doing this project. Think of it as a real problem you face and the impact it has on lives or ecosystems.

Objective.

“Where I want to go?” A goal describes where you want to go and sets a clear direction. Think of it as a point on a map, a destination like New York.

Key Result.

“How do I know if I’m going to get there?” A key result shows you how you are progressing towards your goal. Think of it as a signal with a distance marker.

Initiatives or Tasks.

“What will I do to get there?” An initiative describes what you will do to influence your key results. Think of it as the description of what you will do to get to your destination.

HOW DO WE USE IT?

Step 1.

Define and write down on sticky notes:

The mission of your project.

Why do we want to do this project?

The general objective and the objectives by team or member (In case you work in a team)

Where do we all need to go? Where do we need to go as a team?

Main or team key result

How do I know that we are achieving it? (Use measurements)

Initiatives

What do I need to do to get there?

Step 2.

Team: Discuss with your team each of the results.

Individual: Analyze each of the results.

Avoid overly ambiguous or repetitive ideas.

Example:

Mission: Rescue and empower women who suffer from domestic violence.

Objective:
Build a shelter through a crowdfunding campaign.

Objective Team 1.
Draft the campaign.
Team Objective 2.
Create a database of potential donors.

Key Result:
Reach €20,000 euros in 60 days.
Key Result Team 1.
Reach €10,000 euros from selling shirts.
Key Result Team 2.
Reach €10,000 euros from corporate donors.

Initiatives or Tasks:
Create presentations
Photo and Video Production
Create a campaign web page
Contact potential donors

HOW DO WE INTERPRET IT?

Key characteristics of the OBJECTIVES.

Aligned
They should align with the overall goals of your project and support the mission. Team goals should always be created once the overall goal has been agreed upon.

High impact
They should always be achievements, if they are achieved they will have a hugely positive effect on your entire mission. Achieving a goal should always be celebrated and recognized!

Limited in time
Keeping them within a short and strict time frame encourages focus and allows you to review them in cycles. Not only does this help you quickly identify what’s working and what’s not, but it also allows you to turn the tide on a new cycle if your team’s goals don’t contribute to the overall goal.

Key characteristics of the KEY RESULTS.

High impact

They should reflect a big change, something that, if you achieve 70% up to 80% completion, the rest of your team will notice. Make them tough. If they are easy to achieve, they are not challenging enough.

Specific

They must be focused and have a clearly defined scope. While the key results cover broad metrics, the team’s key results should measure more granular progress, such as sales of a specific product.

Inside the influence

They must be things that you can influence. Writing 10 blog posts is a bad key result, it’s something you do. Getting 1,000 hits on a blog post is a good key result, as it’s something you can’t control but can influence.

Key characteristics of INITIATIVES.

Specific

It must be specific. Its scope must be clearly defined, and the person in charge of the initiative must know what to do. It cannot be vague as it can be a target. Therefore, an initiative must contain verbs that are not ambiguous, such as establish, write, launch, visit, release, etc.

Within control

The person in charge must have full control, which means that it will be in their power to complete them.

There should be no dependencies on something or someone else. It also means that he can be held liable for not completing his initiatives; it will be more difficult to hold someone accountable for not achieving their OKRs (as they will not have full control over the latter).

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