What are OKR’s?
OKR stands for Objectives and Key Results. It is a goal-setting framework used by organizations to establish specific and measurable goals and track their progress towards achieving those goals.
A study conducted by Google in 2018 found that teams that used the OKR framework had higher levels of alignment, clarity, and commitment to goals than teams that did not use the OKR framework. The study also found that OKRs helped teams to be more ambitious in setting their goals and to achieve better results over time.
The OKR methodology is composed of two parts:
- Objectives: These are the overarching goals that an organization wants to achieve. Objectives should be specific, time-bound, and challenging but also achievable. Objectives should answer the question, “What do we want to achieve?”
- Key Results: These are the specific metrics or milestones that an organization uses to measure progress towards achieving company objectives. Key results should be quantifiable, measurable, and indicative of progress towards the objective. Key results should answer the question, “How will we know if we are making progress towards our objective?”
The combination of objectives and key results creates a system that is both ambitious and focused. Objectives set the direction, while key results provide a way to measure progress towards that direction. By regularly reviewing and business objectives and key results, organizations can stay aligned and make progress towards achieving their goals. – Continue this article on Serchen.com