What is OKR (Objectives and key results ) By John Doerr

What is OKR (Objectives and key results )By John Doerr

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What is OKR (Objectives and key results ) By John Doerr by Mind Map: What is OKR  (Objectives and key results ) By  John Doerr

1. More Information

1.1. John Doerr

1.1.1. John Doerr

1.2. Andy Grove

1.2.1. video

1.2.1.1. Andy Grove Co-founder of Intel 1999 Interview

1.2.1.2. Silicon Valley Mourns Andy Grove, a Titan of Tech

1.2.1.3. Andy Grove; Peter Bergen; Art Historian Ernst Gombrich (Nov, 15, 2001) | Charlie Rose

1.3. Videos

1.3.1. Startup Lab workshop: How Google sets goals: OKRs

1.3.1.1. Startup Lab workshop: How Google sets goals: OKRs

1.3.2. The New OKR Crash Course: An introduction to Objectives & Key Results

1.3.2.1. The New OKR Crash Course: An introduction to Objectives & Key Results

1.3.3. John Doerr on OKRs and Goal Setting at Google and Intel

1.3.3.1. John Doerr on OKRs and Goal Setting at Google and Intel

1.3.4. What is an OKR?

1.3.4.1. What is an OKR?

1.3.5. How to Align your Company with OKRs / Latttice

1.3.5.1. How to Align your Company with OKRs

1.4. Quotes

1.4.1. “Having goals improves performance. Spending hours cascading goals up and down the company, however, does not. It takes way too much time and it’s too hard to make sure all the goals line up. ” Laszlo Bock

1.4.1.1. Laszlo Bock

1.5. A good site for OKR

1.5.1. OKR: Learn Google's Goal System with Examples and Templates

1.6. Ntask Blog Post OKR

2. What is an OKR

2.1. OKR (Objectives and Key Results) is a goal system used by Google and others. It is a simple tool to create alignment and engagement around measurable goals.

2.2. What does OKR stand for?

2.2.1. Graph

2.2.1.1. Framework

2.2.1.2. Objective

2.2.1.3. Key Results

2.2.1.4. Measurable

2.2.1.5. Target

2.2.1.6. Benchmark

2.2.1.7. Verifiable

3. Objectives

3.1. Objectives are memorable qualitative descriptions of what you want to achieve. Objectives should be short, inspirational and engaging. An Objective should motivate and challenge the team

4. Key Results

4.1. are a set of metrics that measure your progress towards the Objective. For each Objective, you should have a set of 2 to 5 Key Results. More than that and no one will remember them.

4.2. “If it does not have a number, it is not a Key Result.” Marissa Mayer

5. Examples

5.1. 1

5.1.1. Objective

5.1.1.1. Create an Awesome Customer Experience.

5.1.2. Key Results

5.1.2.1. Improve Net Promoter Score from X to Y.

5.1.2.2. Increase Repurchase Rate from X to Y.

5.1.2.3. Maintain Customer Acquisition cost under Y.

5.2. 2

5.2.1. Objective

5.2.1.1. Delight our customers

5.2.2. Key Results

5.2.2.1. Reduce revenue churn (cancellation) from X% to Y%.

5.2.2.2. Increase Net Promoter Score from X to Y.

5.2.2.3. Improve average weekly visits per active user from X to Y.

5.2.2.4. Increase non-paid (organic) traffic to from X to Y.

5.2.2.5. Improve engagement (users that complete a full profile) from X to Y.

5.3. 1. Project Management OKR Examples

5.3.1. If your projects are product-based, you can use the following OKRs:

5.3.2. 1

5.3.2.1. Objective

5.3.2.1.1. successfully launch a beta version of the product

5.3.2.2. Key Results

5.3.2.2.1. Collect feedback from the first 50% of the customers

5.3.2.2.2. Get published product reviews in at least 5 major publications

5.3.2.2.3. Get at least 50% new signups

5.3.3. 2

5.3.3.1. Objective

5.3.3.1.1. design new product vision

5.3.3.2. Key Results

5.3.3.2.1. Get internal feedback from your team (preferably on a scale)

5.3.3.2.2. Take feedback from at least 50% of prospective customers

5.3.3.2.3. Get maximum usability score on UX mockups from prospective customers

5.3.4. 3

5.3.4.1. Objective

5.3.4.1.1. pinpoint problems with the current user interface by Q2

5.3.4.2. Key Results

5.3.4.2.1. Run quality assurance of all features in real-time

5.3.4.2.2. Present solutions for reducing lag time

5.3.4.2.3. Identify areas that cause product lags

5.3.5. 4

5.3.5.1. Objective

5.3.5.1.1. improve product performance by 75% by Q4

5.3.5.2. Key Results

5.3.5.2.1. Eliminate 90% bugs

5.3.5.2.2. Incorporate new tools to improve performance

5.3.5.2.3. Reduce processing time by 75%

5.4. 2. Marketing OKR Examples

5.4.1. 1

5.4.1.1. Objective

5.4.1.1.1. Increase sign-ups via email by 30% by the end of Q4.

5.4.1.2. Key Results

5.4.1.2.1. Increase click-through rate by 30%

5.4.1.2.2. Increase email open rate by 30%

5.4.1.2.3. Decrease email bounce by 30%

5.4.2. 2

5.4.2.1. Objective

5.4.2.1.1. Increase market reach by 40% by Q4.

5.4.2.2. Key Results

5.4.2.2.1. 3rd largest distributor network growing by 10% per month

5.4.2.2.2. Published as the fastest growing network in 3 major publications

5.4.2.2.3. Increased brand visibility from 40% to 60%

5.4.3. 3

5.4.3.1. Objective

5.4.3.1.1. Successfully release a monthly newsletter

5.4.3.2. Key Results

5.4.3.2.1. Finalize the structure and key topics for every edition

5.4.3.2.2. Increase subscriber base by at least 10% every month

5.4.3.2.3. Reach out to key industry writers every week

5.4.4. 4

5.4.4.1. Objectiv

5.4.4.1.1. Improve web analytics and conversions

5.4.4.2. Key Results

5.4.4.2.1. Increase organic website visitors every quarter (define a number)

5.4.4.2.2. Increase CTR / Conversion rates by 3% per month

5.4.4.2.3. Get 20 backlinks from other websites

5.5. 3. Sales OKR Examples

5.5.1. 1

5.5.1.1. Objective

5.5.1.1.1. achieve 40% more revenues by the end of Q4

5.5.1.2. Key Results

5.5.1.2.1. Increase gross profit margin by 25%

5.5.1.2.2. Start sales in new cities and achieve 40% more revenues

5.5.1.2.3. Increase monthly revenues by 25%

5.5.2. 2

5.5.2.1. Objective

5.5.2.1.1. improve the efficiency of sales staff by 35%

5.5.2.2. Key Results

5.5.2.2.1. Positive feedback from 80% of customers about the efficiency

5.5.2.2.2. Training sessions conducted once every three months

5.5.2.2.3. Conversion rate increased by 30%

5.5.3. 3

5.5.3.1. Objective – Increase sales by 20% in the central region

5.5.3.2. Key Results

5.5.3.3. Onboard at least 5 new vendors from the targeted region

5.5.3.4. Develop better relationships with the audience

5.5.3.5. Implement a new training system for the central region sales team

5.5.4. 4

5.5.4.1. Objective – Increase customer retention by 60% at the end of Q4

5.5.4.2. Key Results

5.5.4.3. Address customer queries within 24 hours and resolve them within 48 hours

5.5.4.4. Get regular after-sales feedback to make improvements

5.5.4.5. Provide relevant solutions to individual customer problems

5.6. 4. Engineering OKR Examples

5.6.1. 1

5.6.1.1. Objective – improved quality of features in the new release

5.6.1.2. Key Results

5.6.1.2.1. Less than 5 major bugs in production

5.6.1.2.2. Increased unit test coverage from 40% to 70%

5.6.1.2.3. Implement the new QA process

5.6.2. 2

5.6.2.1. Objective – improve data security procedures

5.6.2.2. Key Results

5.6.2.3. Review security policies of top 5 companies

5.6.2.4. 100% data recovery with daily backup

5.6.2.5. Conduct testing using at least 2 external software

5.6.3. 3

5.6.3.1. Objective – Improve testing procedures

5.6.3.2. Key Results

5.6.3.3. Increase time spent on reviewing codes by 20 minutes each day

5.6.3.4. Increase unit test coverage by 50%

5.6.3.5. Implement test-driven development in teams

5.6.4. 4

5.6.4.1. Objective – Improve testing procedures

5.6.4.2. Key Results

5.6.4.3. Increase time spent on reviewing codes by 20 minutes each day

5.6.4.4. Increase unit test coverage by 50%

5.6.4.5. Implement test-driven development in teams

5.6.5. 5

5.6.5.1. Objective – Maintain an agile process

5.6.5.2. Key Results

5.6.5.3. Create a knowledge-based documentation system

5.6.5.4. Design and implement workflow graph

5.6.5.5. Install new migration field

5.7. 5. Human Resources OKR Examples

5.7.1. 1

5.7.1.1. Objective – Improve employee engagement and satisfaction

5.7.1.2. Key Results

5.7.1.2.1. Interview employees and measure their satisfaction levels

5.7.1.2.2. Run surveys on employee need to improve work culture

5.7.1.2.3. Make sure every manager is working on a 2-way feedback loop

5.7.2. 2

5.7.2.1. Objective – Define and promote company culture and values

5.7.2.2. Key Results

5.7.2.2.1. Conduct brainstorming sessions to get ideas on improving the culture

5.7.2.2.2. Survey all employees in understanding current values

5.7.2.2.3. Promote new values on office intranet and in an office environment

5.7.3. 3

5.7.3.1. Objective – Complete all employee reviews on time

5.7.3.2. Key Results

5.7.3.2.1. Collect performance data from all the managers on time

5.7.3.2.2. Conduct surveys on how your employees like the current performance process

5.7.3.2.3. Implement quarterly performance reviews

5.7.4. 4

5.7.4.1. Objective – Evaluate training needs and implement training programs

5.7.4.2. Key Results

5.7.4.2.1. Organize regular training sessions for employees

5.7.4.2.2. Review the training needs of all the new employees

5.7.4.2.3. Gather feedback from all the training activities going on

5.8. 6. Support/Customer Service OKR Examples

5.8.1. 1

5.8.1.1. Objective – Improve the efficiency of the support team

5.8.1.2. Key Results

5.8.1.2.1. Conduct training sessions per quarter to optimize performance

5.8.1.2.2. Gather feedback from the support team on current practices

5.8.1.2.3. Maintain a weekly performance report

5.8.2. 2

5.8.2.1. Objective – Track and monitor all the critical support metrics

5.8.2.2. Key Results

5.8.2.2.1. Identify the number of new tickets and resolved tickets per day

5.8.2.2.2. Track and monitor the average resolution time

5.8.2.2.3. Track top 15 customers by active tickets

5.8.3. 3

5.8.3.1. Objective – Deliver a high-end customer support experience

5.8.3.2. Key Results

5.8.3.2.1. Resolve maximum tickets within 48 hours

5.8.3.2.2. Each support rep to maintain a personal goal of resolved tickets

5.8.3.2.3. Conduct interviews with top customers to improve performance

5.9. 7. Administrative/Operations OKR Examples

5.9.1. 1

5.9.1.1. Objective – Improve internal document management

5.9.1.2. Key Results

5.9.1.2.1. Install a new document management software

5.9.1.2.2. Move 70% of data from old software to new during Q1

5.9.1.2.3. Maintain each team’s own directory of documents

5.9.2. 2

5.9.2.1. Objective – Increase the efficiency of all internal processes

5.9.2.2. Key Results

5.9.2.2.1. Introduce new tools by the end of Q4

5.9.2.2.2. Conduct training sessions about new tools

5.9.2.2.3. Run performance measures to see the impact on productivity

5.9.3. 3

5.9.3.1. Objective – Improve IT and infrastructure by Q4

5.9.3.2. Key Results

5.9.3.2.1. Eliminate systems downtime by the end of Q3

5.9.3.2.2. Improve the IT team’s response time and internal satisfaction

5.9.3.2.3. Install new backup systems and processes

5.9.4. 4

5.9.4.1. Objective – Streamline inventory management process at the end of Q1

5.9.4.2. Key Results

5.9.4.2.1. Forecast needs of all departments by the end of Q3

5.9.4.2.2. Track the quantities ordered with that of need, by Q1

5.9.4.2.3. Implement a new system for better processing of inventory

5.10. 8. Accounting and Finance OKR Examples

5.10.1. 1

5.10.1.1. Objective – Improve annual budgeting and planning process

5.10.1.2. Key Results

5.10.1.2.1. Have a meeting with each division manager about new processes

5.10.1.2.2. Review budget proposals by the end of Q3

5.10.1.2.3. Identify loss areas and reduce unnecessary expenditure by 70% by Q4

5.10.2. 2

5.10.2.1. Objective – Improve financial reporting processes

5.10.2.2. Key Results

5.10.2.2.1. Maintain a well-kept financial record at the end of every quarter

5.10.2.2.2. Install a new system for keeping financial records in check

5.10.2.2.3. Make sure to close all financials at the end of each quarter

5.10.3. 3

5.10.3.1. Objective – Develop a financial strategy for the next 3 years

5.10.3.2. Key Results

5.10.3.2.1. Conduct discussions with managers by the end of Q4

5.10.3.2.2. Raise funding during the first three quarters

5.10.3.2.3. Finalize budget at the end of Q4

5.10.4. 4

5.10.4.1. Objective – Grow monthly recurring revenues to $150,000

5.10.4.2. Key Results

5.10.4.2.1. Increase the number of subscriptions per month to 80%

5.10.4.2.2. Reduce churn rate to less than 1% monthly

5.10.4.2.3. Create product demos for every customer who signs up

5.11. 9. Design OKR Examples

5.11.1. 1

5.11.1.1. Objective – Improve performance of design team

5.11.1.2. Key Results

5.11.1.2.1. Conduct relevant training sessions to optimize performance

5.11.1.2.2. Install new design software to reduce design time

5.11.1.2.3. Create guidelines for increasing the efficiency of the team

5.11.2. 2

5.11.2.1. Objective – Create a design prototype of the product at the end of Q2

5.11.2.2. Key Results

5.11.2.2.1. Gather all the requirements

5.11.2.2.2. Use advanced tools and software to create the design

5.11.2.2.3. Give weekly reports to get timely feedback and make changes wherever required

5.11.3. 3

5.11.3.1. Objective – Design product as per client’s requirements

5.11.3.2. Key Results

5.11.3.2.1. Conduct meetings with the client to fully understand the requirements

5.11.3.2.2. Design a draft and get approval at the end of the first quarter

5.11.3.2.3. Launch beta version of the product by Q3

5.11.4. 4

5.11.4.1. Objective – Redesign and relaunch the landing page by end of Q3

5.11.4.2. Key Results

5.11.4.2.1. DECOUPLING REWARDS

5.11.4.2.2. Run tests on the existing landing page to understand issues

5.11.4.2.3. Design new page structure by Q1

5.11.4.2.4. Present final redesign to project manager for approvals

6. AMBITIOUS GOALS: MOONSHOTS AND STRETCH GOALS

6.1. The philosophy behind OKR is that if the company is always reaching 100% of the goals, they are too easy.

6.2. Instead, OKR targets bold, ambitious goals.

6.3. OKR’s ambitious goals are known as moonshots or stretch goals. The usual recommendation is that in average you should achieve only 60-70% of them.

6.4. But that does not apply to all OKRs, as some goals should be predictable. That is why is important to understand the difference between moonshots and roofshots.