OKR - Objectives and Key Results
Every organization has different objectives when carrying out a project, program or portfolio and these objectives have to be aligned throughout the whole organization, involving all levels of an organization is an explicit of the approach. This article will present a collaborative goal-setting tool which allows to set both individual and team challenging goals with measurable results. OKRs, Objectives and Key Results, are how organizations track progress, create alignment and encourage engagement around measurable goals [1].
No one individual – or company – can “do it all”. OKRs are really helpful in the context of goal definition process, and for leaders, they give a lot of visibility into an organization. In case of complex circumstances, the catalogue of objectives consists of different characteristics that are usually of different importance, so it is of great importance to prioritize the different characteristics in the goal definition process [2]. With a select set of OKRs, we can highlight a few things – the vital things – that must get done, as planned and on time [3].
On the other hand, Key Results monitor how we get to the objectives, so they must be measurable and verifiable. At the end of the designated period a regular check and grade of the key results should be done. If an objective is well framed, three to five Key Results will usually be adequate to reach it.
OKRs were created at Intel by Andy Grove and taught to John Doerr by him. Since then, the most innovative and best managed companies in the world have adopted them, such as Google, Netflix, Twitter, Uber, etc.
Contents |
Big idea
Application
Limitations
Annotated bibliography
[1] Panchadsaram, R., & Prince, S. (2020, September 9). What is an OKR? Definition and examples. What Matters. https://www.whatmatters.com/faqs/okr-meaning-definition-example/
[2] Züst, R., & Troxler, P. (2014). No More Muddling Through: Mastering Complex Projects in Engineering and Management (2006th ed.). Springer.
[3] Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin.
