Rename OKRs from Objectives and Key Results to Outcomes and Key Results
When we call them objectives, it becomes very project based. When we reframe it as outcomes, it becomes value based.
What are shared OKRs?
Shared OKRs are the most effective tool to create alignment between multiple teams or functions. In a shared OKR, two or more teams share the same OKR, but each team has different initiatives.
Strategic vs Tactical OKR
Do you own them or delegate them? It depends, there are tight and loose OKR’s, you should be clear on what type of approach you are taking.
Creating too many OKR’s
The OKR’s you set DO NOT need to account for everything you will be working on during this time. Instead, they are the compass that tells you what is important, and that everything else is second place.
How to Write an Effective OKR
We will __ (outcome) __ as measured by __ (these Key Results)
Good OKR’s are:
- Ambitious - The outcome is challenging, providing a qualitiative, inspirational direction for the team
- Time-bound - Both the objective and key results provide realistic deadlines
- Measurable - The key results are quantifiable and easily verified
- Concrete - The outcome and key results are clearly defined and simple to understand
- Action-oriented - these are outcomes the team can own and work towards
Migrating from Activities to Value-based OKR’s
Often we fall into the trap of recording Tasks as key results. If you have a task listed as a key result, use this simple tool to identify the desired results:
If we are successful with (this initiative),
(Key Result #1)
(Key Result #2)
(Key Result #3)
Should OKR’s drive compensation?
OKR’s are not a legal document upon which to base a performance review, it should be just one input used to determine how well an individual is doing.
Tracking OKR Results with the Weekly Check-in
Grading OKR’s at the end of a quarter
What factors were in and out of our team’s control?
Do the results match our efforts?
Where did we get lucky?
What could we have done better?