The following article includes a downloadable OKR template and guidance on completing Objective and Key Results (OKRs) of your own.
Creating Objectives and Key Results (OKRs) is an essential practice for organisations and individuals who aim to achieve ambitious goals.
This management strategy is popular among tech giants and startups alike for its focus on setting measurable, outcome-oriented objectives.
Here, we will walk you through the process of creating and tracking OKRs effectively. Plus, don’t miss out on our downloadable Word template that lets you input your own OKRs with ease!
What Are OKRs?
OKRs stand for Objectives and Key Results. The "Objective" is the overarching goal you aim to achieve, while "Key Results" are specific, measurable indicators that show you’re progressing toward that objective.
Why Use OKRs?
Alignment: OKRs help align your personal or organisational goals with overarching strategies.
Focus: By setting specific metrics, OKRs force you to concentrate on what truly matters.
Accountability: Assigning OKRs ensures that everyone knows their role in achieving objectives.
How to Create OKRs
Step 1: Define Your Objectives
Start by setting 1-3 objectives for the quarter or year. Objectives should be:
Aligned with your overall strategy
Step 2: Establish Key Results
For each objective, create 3-5 key results that are:
Realistic yet challenging
Step 3: Assign Ownership
Designate an owner for each key result. The owner is responsible for monitoring and updating the status of the key result.
Step 4: Track and Update
Keep tabs on your key results. Regularly update their status to one of the following:
Summarise the progress briefly for better understanding and future planning.
Step 5: Review and Adjust
Conduct regular reviews, typically on a quarterly basis, to evaluate performance and adjust your OKRs as necessary.
Using Our OKR Template
We’ve created a handy Word template to help you effortlessly keep track of your OKRs. The template allows you to input:
Objective Description: A detailed narrative of what you aim to achieve.
For each Key Result:
Summary: A brief outline of the key result.
Owner: The person responsible for the key result.
Status: Indicates whether the key result is "Not Started," "In Progress," "Completed," or has an "Issue."
Summary of Progress: A concise update on how things are progressing.
OKR Template & Guidance Conclusion
OKRs offer a robust framework for setting and achieving goals, whether you're an individual or part of a larger organisation.
By implementing OKRs into your workflow, you set the stage for clearer communication, higher levels of productivity, and more effective achievement of your most important objectives.
Don’t forget to download our OKR template to help streamline this beneficial practice!
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