#Objectives & Key Results (#OKR) is a process for setting goals & breaking those #goals up. An objective is a goal. Key #Results are actions to move toward the goal. #KPI’s are how you monitor or measure the achievement of the goals set. Key Results must be timebound, and achievement measured as a yes or no answer.
Objectives need to #pushlimits and are recommended to be #audaciousgoals yet achievable. OKRs are specific not wishy-washy. It is important to get Senior management buy in to these goals and the desired outcome. Crucially, saying yes to certain objectives means saying NO to others. Not everything can be a #priority, and too many objectives decrease the chance of getting any of them done. Recommend Max or 3 to 5 objectives.
Activities are then mapped to Objectives and clustered into key results or #milestones that need to be achieved and can be measured on the journey. Allocate ownership of these to individuals to install #accountability (These could be individual/divisional/department heads) Recommend Max or 3 to 5 activities per objective – no more.
Often objectives and activities can be disconnected, use KPI’s which are measured #metrics as the glue to ensure that activities and objectives remain on track and to act as an early warning of any disconnect. KPI’S are hence an ongoing objective measure that the outcome is moving in the right direction.
Another key aspect, #timeframe. It must not be too long (Beyond a year) nor too short (A week). Too short not enough time to #influence the outcome, to long and you will lose #focus. Each activity needs a timeline or to be scheduled as dedicated time per week/month to achieve progression.
These principles can be applied to all aspects of life and can help drive purposeful momentum and achievement. Liz Thring– thank you for your unique insights and hosting the N ABLE thought leadership session around this topic.
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