What are OKRs?
Objectives and Key Results or OKRs is a framework of goal setting invented by Andy Grove, legendary CEO of Intel. OKRs were later popularized by John Doerr, a legendary Silicon Valley venture capitalist who helped implement the OKR framework at Google during its early days.
OKR is a framework of qualitative and quantitative goal setting to drive the organization forward in a desired direction.
Objectives are qualitative statements that answer the broad question "What do we want to do?" and Key Results are the quantitative statements that address the question "How will we know if we met success in achieving the objectives"?
John Doerr, in his popular book, Measure What Matters says "Objectives and Key Results are the yin and yang of goal setting - principle and practice, vision and execution"
OKRs are set at 3 levels - 1) Company 2) Team and 3) Individual with alignment from bottom to top.
- Be managed by the team
- Be Achievable in 3 to 6 months i.e. within the performance summary cycle
- Provide business value
- Inspire and engage the team
Key Results should be:
- measurable for progress
- driving right behaviours