OKRs
OKR stands for “Objectives and Key Results.” OKRs are an effective goal-setting and leadership tool for communicating what you want to accomplish and what milestones you’ll need to meet in order to accomplish it. OKRs are used by some of the world’s leading organizations to set and enact their strategies. Scroll down to learn more and review our presentation on OKR best practices.
OKR Formula
OKRs are typically written with an Objective at the top and 3 to 5 supporting Key Results below it. They can also be written as a statement:
I will (Objective) as measured by (Key Results).
Objectives
An Objective is simply what is to be achieved. By definition, Objectives are significant, concrete, action-oriented, and (ideally) inspirational. When properly designed and deployed, they’re a vaccine against fuzzy thinking and ineffective execution.
Key Results
Key Results benchmark and monitor how we get to the Objective. Effective KRs are specific and time-bound and aggressive yet realistic. Most of all, they are measurable and verifiable. They're similar to SMART goals. You either meet a key result’s requirements or you don’t.
OKR Best Practices Slides
OKR Best Practices.pdfWatch this Skill Series: Objectives and Key Results 33 minute video presentation from Mike Malloy to Halcyon Fellows to better understand OKRs
OKR Examples can help each department create their OKRs with great examples to spark ideas for your team.
If you need help setting up OKRs at your organization, please email Mike Malloy <mike@malloyindustries.com>.
References:
What is an OKR? Definition and Examples by Measure What Matters
Measure What Matters OKRs 101 course
Get Started With OKRs: Your step-by-step guide for setting and achieving audacious goals