Objectives and key results (OKR) is a goal-setting framework for defining and tracking objectives and their outcomes.
OKRs comprise an objective—a clearly defined goal—and 3–5 key results—specific measures used to track the achievement of that goal. The goal of OKR is to define how to achieve objectives through concrete, specific and measurable actions. Key results can be measured on a 0–100% scale or any numerical unit (e.g. dollar amount, %, items, etc.). Objectives should also be supported by initiatives, which are the plans and activities that help to achieve the objective and move forward the key results. It is recommended that your target success rate for key results be 70%. A 70% success rate encourages competitive goal making that is meant to stretch workers at low risk. If 100% of the key results are consistently being met, key results should be reevaluated.
OKRs overlap with other performance management frameworks, in terms of complexity, sitting somewhere between KPI [TWOTW] and the balanced scorecard.
The key benefits of OKRs are focus, alignment and engagement.
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