The Beginner Guide to OKR

The Beginner’s Guide to OKR - Reading notesThe goal to ensure everyone is going in the same direction, with clear priorities, in a constant rhythmThe ComponentsDoerr’s Goal FormulaI will ________ as measured by ____________.1) what you will achieve 2) how you are going to measure its achievementThe structure I will (Objective) as measured by (this set of Key Results)The Objectivesmemorable qualitative descriptions of what you want to achieveshortsimpleease to memoriseinspirationalengagingnot boringmotivate and challenge the Team no numberThe Key Resultsa set of metrics that measure your progress towards the ObjectivequantitativenumbermeasurableThe Key Results modelIf we are successful with ________, we will have more ________ and/or less __________Activity-based Key Resultsstart with verbs such aslaunch, create, develop, deliver, build, make, implement, define, release, test, prepare and plan Value-based Key ResultsIncrease/Reduce ABC-metric from X to Y X is the baseline (where we begin)Y is the target (what we want to achieve)The initiativesWhat we are going to do to reach our OKR: projects, tasks or activitiesseparate the OKRs from the activities/tasks that we plan on doing to achieve the OKRsThe Core conceptsAGILE GOALSusing shorter goal cycles, adapt and respond to changeSIMPLICITYeasy to understandset goalslightweight processinvest resources in achieving the goals, not on settingTRANSPARENCYto create alignment in the organizationOKRs are public to all company levelsNESTED CADENCESannuala strategic cadence with high-level, longer term OKRs for the companyquarterlya tactical cadence with shorter term OKRs tactical OKRs for the teams, with a mid-quarter reviewweeklyan operational cadence for OKR tracking results and initiatives for tracking resultsTracking Resultswith the WeeklyCheck-inBIDIRECTIONAL GOAL SETTING OKRs do not cascadea market-based approach that is simultaneously bottom-up and top-downAMBITIOUS GOALS: MOONSHOTS AND STRETCH GOALSaverage you should achieve only 60-70% of themUse the stretching analogyDECOUPLING REWARDSOKR is a management tool, not an employee evaluation toolADOPTING OKRAdopting OKR is a journey, not an eventThe common mistakesUsing OKR as a task listIncluding tasks as Key ResultsSetting too many OKRs or Key ResultsNot aligning your OKRsSet it and Forget itSetting non-measurable Key ResultsSetting OKRs top-downOKRs do not cascadeCreating OKRs in silosIncluding OKRs in a compensation formulaTrying to copy Google blindlyTips for writing good OKRsFor ObjectivesFit the cultureinformal and funuse slangs, internal jokes and even profanityFor Key ResultsValue basedSeparate metrics from initiativesOKR Cheat Sheethttps://felipecastro.com/resource/CheatSheet_EN.pdfThe benefitsAgilityfaster adjustmentsbetter adaptation to changeincreasing innovationreducing risks and wasteAlignment and cross-functional cooperationimprove collaborationsolve interdependenciesunify competing initiativesReduced time and resources for setting goalsClear communicationunderstand the goalprioritizationEmployee engagementeach individual can contributeconnects the employees with the company’s objectivesincreasing engagementAutonomy and accountabilityfree to choose how to achieve OKRsresponsibilityFocus and disciplineBolder goalsset ambitious, challenging goalsThe Typical OKRCycleDescribes a model to create a more refined and execution-ready strategyThe executive team then validates the company OKRs, gathering feedback from the teamTeams develop their Tactical OKRs using the bidirectional approach described aboveTeams map interdependencies and ensure alignment with other teams and initiatives.For companies using quarterly OKRs, it is common to review the OKRs halfway down the quarter during a mid-term OKR reviewTeams have weekly check-ins to track results and initiativesCIOKRs that haven’t been achieved in the previous cycle are re-evaluatedincluded in the next quarter or discarded
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