OKR - Objectives and Key Results - Revision history

S206040: /* Big idea */

2021-02-28T09:16:37Z

Big idea

← Older revision		Revision as of 09:16, 28 February 2021
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	OKRs stand out for its simplicity and are used to track progress, create alignment with the strategic objectives and encourage engagement around measurable goals. For this reason, it is of great importance to apply OKRs through the different levels of an organization, and all of them must have a correlation between them. This methodology gives a solution to many of the usual problems in a company, such as improving the communication between the different departments involved in the project or ensuring the liability and motivation the employees by increasing the company’s transparency.		OKRs stand out for its simplicity and are used to track progress, create alignment with the strategic objectives and encourage engagement around measurable goals. For this reason, it is of great importance to apply OKRs through the different levels of an organization, and all of them must have a correlation between them. This methodology gives a solution to many of the usual problems in a company, such as improving the communication between the different departments involved in the project or ensuring the liability and motivation the employees by increasing the company’s transparency.

	Objectives: ''What is to be achieved, no more and no less'' <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>. By definition, objectives are significant, concrete, action oriented and inspirational; and what is more, unmeasurable.		'''Objectives:''' ''What is to be achieved, no more and no less'' <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>. By definition, objectives are significant, concrete, action oriented and inspirational; and what is more, unmeasurable.

	Key Results: ''Benchmark and monitor HOW we get to the objective'' <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>. Key Results are the marks you hit to achieve the goal. Effective KRs are specific and time bound. Most of all, they are measurable and verifiable. Key results typically include hard numbers for one or more gauges: revenue, growth, active users, quality, safety, market share, customer engagement, etc. You either meet a Key Result’s requirements or you don’t; there is no gray area. At the end of the designated period, typically a quarter, the key result is declared fulfilled or not. Where an objective can be long-lived, rolled over for a year or longer, key results evolve as the work progresses. If an objective is well-framed, three to five Key Results will usually be enough to reach it, and once they are all completed, the objective is necessarily achieved <ref name="Measure What Matters: Superpower #1: Focus and commit to priorities"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #1: Focus and commit to priorities. Portfolio Penguin. </ref>.		'''Key Results:''' ''Benchmark and monitor HOW we get to the objective'' <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>. Key Results are the marks you hit to achieve the goal. Effective KRs are specific and time bound. Most of all, they are measurable and verifiable. Key results typically include hard numbers for one or more gauges: revenue, growth, active users, quality, safety, market share, customer engagement, etc. You either meet a Key Result’s requirements or you don’t; there is no gray area. At the end of the designated period, typically a quarter, the key result is declared fulfilled or not. Where an objective can be long-lived, rolled over for a year or longer, key results evolve as the work progresses. If an objective is well-framed, three to five Key Results will usually be enough to reach it, and once they are all completed, the objective is necessarily achieved <ref name="Measure What Matters: Superpower #1: Focus and commit to priorities"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #1: Focus and commit to priorities. Portfolio Penguin. </ref>.

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S206040 at 09:12, 28 February 2021

2021-02-28T09:12:09Z

S206040: /* Application scenario: bracket around several project portfolios */

2021-02-28T08:58:08Z

Application scenario: bracket around several project portfolios

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	Project management may be seen as a set of processes and activities that are undertaken to achieve the project objectives. Some of these processes may take place once, at the initial creation of the project charter, but many others overlap and occur several throughout the project. It is evident a project has a small chance of meeting its objective when the project manager fails to integrate the project processes where they interact. Therefore, it is important to make use of the OKR methodology in order to organize all key results that must be achieved to accomplish the different objectives <ref name="The Role of Project Manager"> (2017b). A Guide to the Project Management Body of Knowledge (PMBOK Guide): The Role of Project Manager (6th ed.). Project Management Institute. </ref>.		Project management may be seen as a set of processes and activities that are undertaken to achieve the project objectives. Some of these processes may take place once, at the initial creation of the project charter, but many others overlap and occur several throughout the project. It is evident a project has a small chance of meeting its objective when the project manager fails to integrate the project processes where they interact. Therefore, it is important to make use of the OKR methodology in order to organize all key results that must be achieved to accomplish the different objectives <ref name="The Role of Project Manager"> (2017b). A Guide to the Project Management Body of Knowledge (PMBOK Guide): The Role of Project Manager (6th ed.). Project Management Institute. </ref>.

	==Application scenario: ~~bracket~~ around several project portfolios==		==Application scenario: Bracket around several project portfolios==

	The larger the organization and the higher the number of projects and portfolios, the greater the risk of losing clarity. In addition, conflicts of objectives arise between projects. OKRs can use Objectives at the corporate level to ensure a common focus on goals. When using OKRs, a direct link between the projects could be established and the formulation of project assignments and milestones improved. It becomes easier to understand why the project exists. A functioning OKR cycle in quarters also helps to synchronize projects and portfolios. Because instead of managing a several individual projects, OKRs are one level above, focusing just on the really important and value-creating issues <ref name="WorkPath"> Frank, C. (2020, December 17). Targeted program and portfolio management with Objectives and Key Results (OKRs). Workpath. https://www.workpath.com/magazine/okr-agile-management </ref>.		The larger the organization and the higher the number of projects and portfolios, the greater the risk of losing clarity. In addition, conflicts of objectives arise between projects. OKRs can use Objectives at the corporate level to ensure a common focus on goals. When using OKRs, a direct link between the projects could be established and the formulation of project assignments and milestones improved. It becomes easier to understand why the project exists. A functioning OKR cycle in quarters also helps to synchronize projects and portfolios. Because instead of managing a several individual projects, OKRs are one level above, focusing just on the really important and value-creating issues <ref name="WorkPath"> Frank, C. (2020, December 17). Targeted program and portfolio management with Objectives and Key Results (OKRs). Workpath. https://www.workpath.com/magazine/okr-agile-management </ref>.

	==Application scenario: Operationalizing a new strategy==		==Application scenario: Operationalizing a new strategy==

S206040: /* Benefits of applying OKR */

2021-02-28T08:57:41Z

Benefits of applying OKR

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	Many of the biggest companies in the world such as Google, Facebook or Zalando are using OKRs, what proves the great benefits they have. The unmistakable advantages of OKRs, also called the four OKR “superpowers” are focus, align, track, and stretch <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>.		Many of the biggest companies in the world such as Google, Facebook or Zalando are using OKRs, what proves the great benefits they have. The unmistakable advantages of OKRs, also called the four OKR “superpowers” are focus, align, track, and stretch <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>.

	• Focus on key Objectives. High-performance organizations home in on work that is important and are equally clear and what does not matter. OKRs impel leaders to make hard choices. They are a precision communication tool for departments, teams, and individual contributors. In order to measure what really matters, managers have to begin with questions such as: What is the most important for the next X months? What are our priorities for the coming period? Where should people concentrate their efforts? By standing firmly behind a few top-line OKRs, they give their teams a compass and a baseline for assessment.		• '''Focus on key Objectives.''' High-performance organizations home in on work that is important and are equally clear and what does not matter. OKRs impel leaders to make hard choices. They are a precision communication tool for departments, teams, and individual contributors. In order to measure what really matters, managers have to begin with questions such as: What is the most important for the next X months? What are our priorities for the coming period? Where should people concentrate their efforts? By standing firmly behind a few top-line OKRs, they give their teams a compass and a baseline for assessment.
	As Steve Jobs understood, Innovation means saying no to one thousand things. In most cases, the ideal number of quarterly OKRs will range between three and five, only the ones that really matter should be set <ref name="Measure What Matters: Superpower #1: Focus and commit to priorities"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #1: Focus and commit to priorities. Portfolio Penguin. </ref>.		As Steve Jobs understood, Innovation means saying no to one thousand things. In most cases, the ideal number of quarterly OKRs will range between three and five, only the ones that really matter should be set <ref name="Measure What Matters: Superpower #1: Focus and commit to priorities"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #1: Focus and commit to priorities. Portfolio Penguin. </ref>.

	• Transparency for all parties involved and thus the possibility of mutual assistance. With OKR’s transparency, everyone’s goals are openly shared. Individuals link their objectives to the company’s game plan, identify cross dependencies, and coordinate with other teams. By connecting each contributor to the organization’s success, top-down alignment brings meaning to work. By deepening people’s sense of ownership, bottom-up OKRs foster engagement and innovation. Research shows that public goals are more likely to be attained that goals held in private. In an OKR system, the most junior staff can look at everyone’s goals, and critiques and corrections are out in public view. Contributors can weigh in even in the goal-setting process itself if they consider so. OKR’s transparency knit each individual’s work to team efforts, department projects, and the overall mission. OKRs are the vehicle of choice for vertical alignment <ref name="Measure What Matters: Superpower #2: Align and connect for teamwork"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #2: Align and connect for teamwork. Portfolio Penguin. </ref>.		• '''Transparency for all parties involved and thus the possibility of mutual assistance.''' With OKR’s transparency, everyone’s goals are openly shared. Individuals link their objectives to the company’s game plan, identify cross dependencies, and coordinate with other teams. By connecting each contributor to the organization’s success, top-down alignment brings meaning to work. By deepening people’s sense of ownership, bottom-up OKRs foster engagement and innovation. Research shows that public goals are more likely to be attained that goals held in private. In an OKR system, the most junior staff can look at everyone’s goals, and critiques and corrections are out in public view. Contributors can weigh in even in the goal-setting process itself if they consider so. OKR’s transparency knit each individual’s work to team efforts, department projects, and the overall mission. OKRs are the vehicle of choice for vertical alignment <ref name="Measure What Matters: Superpower #2: Align and connect for teamwork"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #2: Align and connect for teamwork. Portfolio Penguin. </ref>.

	• Short cycles in which the goal and desired results are reviewed. OKRs are driven by data. They are animated by periodic checking, objective grading, and continuous reassessment. As we track OKRs, there are four options at any point in the cycle: Continue if the goal is still on track, update in case the goal is broken, launch a new OKR whenever the need arises or drop the goal when it has outlived its usefulness. More and more organizations are adopting OKR management software, in which users can navigate a digital dashboard to create, track, edit and score their OKRs. These platforms make everyone’s goal more visible while driving engagement, promote internal networking and, last but not least, save time, money and frustration <ref name="Measure What Matters: Superpower #3: Track for Accountability"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #3: Track for Accountability. Portfolio Penguin. </ref>.		• '''Short cycles in which the goal and desired results are reviewed.''' OKRs are driven by data. They are animated by periodic checking, objective grading, and continuous reassessment. As we track OKRs, there are four options at any point in the cycle: Continue if the goal is still on track, update in case the goal is broken, launch a new OKR whenever the need arises or drop the goal when it has outlived its usefulness. More and more organizations are adopting OKR management software, in which users can navigate a digital dashboard to create, track, edit and score their OKRs. These platforms make everyone’s goal more visible while driving engagement, promote internal networking and, last but not least, save time, money and frustration <ref name="Measure What Matters: Superpower #3: Track for Accountability"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #3: Track for Accountability. Portfolio Penguin. </ref>.

	• So-called stretch goals help an organization to continuously challenge itself. OKRs lead projects to excel by achieving more than what would be thought possible, setting in more creative solutions.		• '''So-called stretch goals help an organization to continuously challenge itself.''' OKRs lead projects to excel by achieving more than what would be thought possible, setting in more creative solutions.

	==OKR VS ancestor, MBO==		==OKR VS ancestor, MBO==

S206040: /* Benefits of applying OKR */

2021-02-28T08:56:56Z

Benefits of applying OKR

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	==Benefits of applying OKR==		==Benefits of applying OKR==

	Many of the biggest companies in the world such as Google, Facebook, Zalando are using OKRs, what proves the great benefits they have. The unmistakable advantages of OKRs, also called the four OKR “superpowers” are focus, align, track, and stretch <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>.		Many of the biggest companies in the world such as Google, Facebook or Zalando are using OKRs, what proves the great benefits they have. The unmistakable advantages of OKRs, also called the four OKR “superpowers” are focus, align, track, and stretch <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>.

	• Focus on key Objectives. High-performance organizations home in on work that is important and are equally clear and what does not matter. OKRs impel leaders to make hard choices. They are a precision communication tool for departments, teams, and individual contributors. In order to measure what really matters, managers have to begin with questions such as: What is the most important for the next X months? What are our priorities for the coming period? Where should people concentrate their efforts? By standing firmly behind a few top-line OKRs, they give their teams a compass and a baseline for assessment.		• Focus on key Objectives. High-performance organizations home in on work that is important and are equally clear and what does not matter. OKRs impel leaders to make hard choices. They are a precision communication tool for departments, teams, and individual contributors. In order to measure what really matters, managers have to begin with questions such as: What is the most important for the next X months? What are our priorities for the coming period? Where should people concentrate their efforts? By standing firmly behind a few top-line OKRs, they give their teams a compass and a baseline for assessment.

S206040 at 19:36, 27 February 2021

2021-02-27T19:36:47Z

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S206040: /* Big idea */

2021-02-27T18:55:59Z

Big idea

← Older revision		Revision as of 18:55, 27 February 2021
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	= Big idea =		= Big idea =

	John Doerr, in his first slide at his presentation to Google, defined OKRs as “a management methodology that helps to ensure that the company focuses efforts on the same important issues throughout the organization” <ref name="Measure What Matters"> ~~(2018).~~ Doerr, J. (~~2018~~). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin./</ref> . OKR is the acronym for Objectives and Key Results, and it is based on the principle of breaking down the vision and goals of organizations into concrete objectives and formulating several measurable results <ref name=~~"Workpath"> (2020).~~ ''~~Targeted program and portfolio management with Objectives and Key Results (OKRs)~~''. Frank, C. (2020, December 17). Targeted program and portfolio management with Objectives and Key Results (OKRs). Workpath. https://www.workpath.com/magazine/okr-agile-management/</ref>.		John Doerr, in his first slide at his presentation to Google, defined OKRs as “a management methodology that helps to ensure that the company focuses efforts on the same important issues throughout the organization” <ref name=''Measure What Matters: Google, Meet OKRs''> ''Doerr, J. (2018c). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Vol. Google, Meet OKRs. Portfolio Penguin.'' </ref> . OKR is the acronym for Objectives and Key Results, and it is based on the principle of breaking down the vision and goals of organizations into concrete objectives and formulating several measurable results <ref name=''WorkPath''> ''Frank, C. (2020, December 17). Targeted program and portfolio management with Objectives and Key Results (OKRs). Workpath. https://www.workpath.com/magazine/okr-agile-management'' </ref>.

	OKR as a planning tool helps the setting and division of objectives from top to bottom through the whole organization, while supporting the adaptation of short-term goals to current needs and ensure usable results in shorter intervals. Usually, OKRs are thought in a timebox of 3 months.		OKR as a planning tool helps the setting and division of objectives from top to bottom through the whole organization, while supporting the adaptation of short-term goals to current needs and ensure usable results in shorter intervals. Usually, OKRs are thought in a timebox of 3 months.
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	OKRs stand out for its simplicity and are used to track progress, create alignment with the strategic objectives and encourage engagement around measurable goals. For this reason, it is of great importance to apply OKRs through the different levels of an organization, and all of them must have a correlation between them. This methodology gives a solution to many of the usual problems in a company, such as improving the communication between the different departments involved in the project or ensuring the liability and motivation the employees by increasing the company’s transparency.		OKRs stand out for its simplicity and are used to track progress, create alignment with the strategic objectives and encourage engagement around measurable goals. For this reason, it is of great importance to apply OKRs through the different levels of an organization, and all of them must have a correlation between them. This methodology gives a solution to many of the usual problems in a company, such as improving the communication between the different departments involved in the project or ensuring the liability and motivation the employees by increasing the company’s transparency.

	Objectives: ''What is to be achieved, no more and no less'' <ref name="Measure What Matters~~"> (2018). Doerr~~, ~~J. (2018). Measure What Matters:~~ OKRs~~: The Simple Idea that Drives 10x Growth. Portfolio Penguin./<~~/~~ref~~>. By definition, objectives are significant, concrete, action oriented and inspirational; and what is more, unmeasurable.		Objectives: ''What is to be achieved, no more and no less'' <ref name=''Measure What Matters: Google, Meet OKRs'' />. By definition, objectives are significant, concrete, action oriented and inspirational; and what is more, unmeasurable.

	Key Results: ''Benchmark and monitor HOW we get to the objective'' <ref name="Measure What Matters~~"> (2018). Doerr~~, ~~J. (2018). Measure What Matters:~~ OKRs~~: The Simple Idea that Drives 10x Growth. Portfolio Penguin./<~~/~~ref~~>. Key Results are the marks you hit to achieve the goal. Effective KRs are specific and time bound. Most of all, they are measurable and verifiable. Key results typically include hard numbers for one or more gauges: revenue, growth, active users, quality, safety, market share, customer engagement, etc. You either meet a Key Result’s requirements or you don’t; there is no gray area. At the end of the designated period, typically a quarter, the key result is declared fulfilled or not. Where an objective can be long-lived, rolled over for a year or longer, key results evolve as the work progresses. If an objective is well-framed, three to five Key Results will usually be enough to reach it, and once they are all completed, the objective is necessarily achieved <ref name="Measure What Matters"> (2018). Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin./</ref>.		Key Results: ''Benchmark and monitor HOW we get to the objective'' <ref name=''Measure What Matters: Google, Meet OKRs'' />. Key Results are the marks you hit to achieve the goal. Effective KRs are specific and time bound. Most of all, they are measurable and verifiable. Key results typically include hard numbers for one or more gauges: revenue, growth, active users, quality, safety, market share, customer engagement, etc. You either meet a Key Result’s requirements or you don’t; there is no gray area. At the end of the designated period, typically a quarter, the key result is declared fulfilled or not. Where an objective can be long-lived, rolled over for a year or longer, key results evolve as the work progresses. If an objective is well-framed, three to five Key Results will usually be enough to reach it, and once they are all completed, the objective is necessarily achieved <ref name="Measure What Matters"> (2018). Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin./</ref>.

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S206040 at 18:48, 27 February 2021

2021-02-27T18:48:31Z

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	Every organization has different objectives when carrying out a project, program or portfolio and these objectives have to be aligned throughout the whole organization, involving all levels of an organization is an explicit of the approach. This article will present a collaborative goal-setting tool which allows to set both individual and team challenging goals with measurable results. OKRs, Objectives and Key Results, are how organizations track progress, create alignment and encourage engagement around measurable goals <ref name="What Matters~~"> (2020).~~ ''~~What is an OKR. Definition and examples~~''. Panchadsaram, R., & Prince, S. (2020a, September 9). What is an OKR? Definition and examples. What Matters. https://www.whatmatters.com/faqs/okr-meaning-definition-example/</ref>.		Every organization has different objectives when carrying out a project, program or portfolio and these objectives have to be aligned throughout the whole organization, involving all levels of an organization is an explicit of the approach. This article will present a collaborative goal-setting tool which allows to set both individual and team challenging goals with measurable results. OKRs, Objectives and Key Results, are how organizations track progress, create alignment and encourage engagement around measurable goals <ref name=''What Matters''> ''Panchadsaram, R., & Prince, S. (2020a, September 9). What is an OKR? Definition and examples. What Matters. https://www.whatmatters.com/faqs/okr-meaning-definition-example/'' </ref>.

	No one individual – or company – can “do it all”. OKRs are really helpful in the context of goal definition process, and for leaders, they give a lot of visibility into an organization. In case of complex circumstances, the catalogue of objectives consists of different characteristics that are usually of different importance, so it is of great importance to prioritize the different characteristics in the goal definition process <ref name="No More Muddling Through">~~Springer. (2014).~~ Züst, R., & Troxler, P. (2014). No More Muddling Through: Mastering Complex Projects in Engineering and Management (2006th ed.). Springer.</ref> . With a select set of OKRs, we can highlight a few things – the vital things – that must get done, as planned and on time <ref name="Measure What Matters"> ~~(2018).~~ Doerr, J. (~~2018~~). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin./</ref> .		No one individual – or company – can “do it all”. OKRs are really helpful in the context of goal definition process, and for leaders, they give a lot of visibility into an organization. In case of complex circumstances, the catalogue of objectives consists of different characteristics that are usually of different importance, so it is of great importance to prioritize the different characteristics in the goal definition process <ref name=''No More Muddling Through''> ''Züst, R., & Troxler, P. (2014). No More Muddling Through: Mastering Complex Projects in Engineering and Management (2006th ed.). Springer.'' </ref>. With a select set of OKRs, we can highlight a few things – the vital things – that must get done, as planned and on time <ref name=''Measure What Matters''> ''Doerr, J. (2018b). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Vol. 4. Superpower #1: Focus and commit to priorities. Portfolio Penguin.'' </ref> .

	On the other hand, Key Results monitor how we get to the objectives, so they must be measurable and verifiable. At the end of the designated period a regular check and grade of the key results should be done. If an objective is well framed, three to five Key Results will usually be adequate to reach it.		On the other hand, Key Results monitor how we get to the objectives, so they must be measurable and verifiable. At the end of the designated period a regular check and grade of the key results should be done. If an objective is well framed, three to five Key Results will usually be adequate to reach it.
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	= References =		= References =

			<references />
	~~[1] Panchadsaram, R., & Prince, S. (2020, September 9). What is an OKR? Definition and examples. What Matters. https:~~/~~/www.whatmatters.com/faqs/okr-meaning-definition-example/~~

	~~[2] Züst, R., & Troxler, P. (2014). No More Muddling Through: Mastering Complex Projects in Engineering and Management (2006th ed.). Springer.~~

	~~[3] Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin.~~

S206040: /* Big idea */

2021-02-27T08:46:37Z

Big idea

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	Key Results: ''Benchmark and monitor HOW we get to the objective'' <ref name="Measure What Matters"> (2018). Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin./</ref>. Key Results are the marks you hit to achieve the goal. Effective KRs are specific and time bound. Most of all, they are measurable and verifiable. Key results typically include hard numbers for one or more gauges: revenue, growth, active users, quality, safety, market share, customer engagement, etc. You either meet a Key Result’s requirements or you don’t; there is no gray area. At the end of the designated period, typically a quarter, the key result is declared fulfilled or not. Where an objective can be long-lived, rolled over for a year or longer, key results evolve as the work progresses. If an objective is well-framed, three to five Key Results will usually be enough to reach it, and once they are all completed, the objective is necessarily achieved <ref name="Measure What Matters"> (2018). Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin./</ref>.		Key Results: ''Benchmark and monitor HOW we get to the objective'' <ref name="Measure What Matters"> (2018). Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin./</ref>. Key Results are the marks you hit to achieve the goal. Effective KRs are specific and time bound. Most of all, they are measurable and verifiable. Key results typically include hard numbers for one or more gauges: revenue, growth, active users, quality, safety, market share, customer engagement, etc. You either meet a Key Result’s requirements or you don’t; there is no gray area. At the end of the designated period, typically a quarter, the key result is declared fulfilled or not. Where an objective can be long-lived, rolled over for a year or longer, key results evolve as the work progresses. If an objective is well-framed, three to five Key Results will usually be enough to reach it, and once they are all completed, the objective is necessarily achieved <ref name="Measure What Matters"> (2018). Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin./</ref>.

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	\|+OKR Example <ref name="What Matters"> (2020). ''OKR. Examples and resources''. OKR Examples & Resources. (2020). What Matters. https://www.whatmatters.com/get-examples//</ref>		\|+OKR Example <ref name="What Matters"> (2020). ''OKR. Examples and resources''. OKR Examples & Resources. (2020). What Matters. https://www.whatmatters.com/get-examples//</ref>
	!Objectives		!Objectives

S206040: /* Annotated bibliography */

2021-02-27T08:41:43Z

Annotated bibliography

← Older revision		Revision as of 08:41, 27 February 2021
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	= Annotated bibliography =		= Annotated bibliography =

	'''Doerr, J. (2018a). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin.'''		*'''Doerr, J. (2018a). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin.'''
			:- ''Measure What Matters'' shows how to implement the OKR system—Objectives and Key Results—for any team or organization. This book contains the history of OKRs, several case studies, and a nice combination of OKR theory and a focus on people. I would suggest the book as a must-read for anyone who is interested in learning about OKR. The book is especially interesting as the author tells its personal experience with OKR and how he introduced it to Google, besides of many big companies’ cases which have been really successful by using OKRs. The book considers OKRs especially at a company level, however it is easy to extrapolate it to a project, program and portfolio management approach.

	''~~Measure What Matters~~'~~' shows how to implement the OKR system—Objectives~~ and Key ~~Results—for any team or organization~~. This book ~~contains~~ the ~~history~~ of ~~OKRs, several case studies,~~ and ~~a nice combination of OKR theory~~ and ~~a focus on people. I would suggest the book~~ as a ~~must-read~~ for anyone who ~~is interested in learning about OKR~~. ~~The~~ book ~~is especially interesting~~ as the ~~author tells its personal experience with OKR and how he introduced it to Google, besides~~ of ~~many big companies’ cases which have been really successful~~ by ~~using OKRs. The book considers~~ OKRs ~~especially at a company level, however it is easy to extrapolate it to a project, program and portfolio management approach~~.		*'''Wodtke, C. R., & Cagan, M. (2016). Radical Focus: Achieving Your Most Important Goals with Objectives and Key Results. Cucina Media LLC.'''
			:-This book introduces the concept of Objectives and Key Results and could be recommended as a starter for anyone who has no previous knowledge on the topic. A really straightforward reading book told as a short fictional “fable”, 100 pages including images, which follows the case of a struggling start-up that turns things around by embracing OKRs.

	~~'''Wodtke, C. R., & Cagan, M. (2016). Radical Focus: Achieving Your Most Important Goals with Objectives and Key Results. Cucina Media LLC.'''~~		*'''Castro, F. The Beginners Guide To OKR.''' https://felipecastro.com/resource/The-Beginners-Guide-to-OKR.pdf
			:-This guide was written by OKR Trainer, Felipe Castro, and it contains all the information needed to understand OKRs and how to put them into practice. It is a complete and clear practical how-to guide for OKRs, it covers from how to write them to how to track them.
	This book introduces the concept of Objectives and Key Results and could be recommended as a starter for anyone who has no previous knowledge on the topic. A really straightforward reading book told as a short fictional “fable”, 100 pages including images, which follows the case of a struggling start-up that turns things around by embracing OKRs.

	'''Castro, F. The Beginners Guide To OKR.'''

	This guide was written by OKR Trainer, Felipe Castro, and it contains all the information needed to understand OKRs and how to put them into practice. It is a complete and clear practical how-to guide for OKRs, it covers from how to write them to how to track them.

	= References =		= References =

← Older revision		Revision as of 09:12, 28 February 2021
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	Every organization has different objectives when carrying out a project, program or portfolio and these objectives have to be aligned throughout the whole organization~~, involving all levels of an organization is an explicit of the approach~~. This article will present a collaborative goal-setting tool which allows to set both individual and team challenging goals with measurable results. OKRs, Objectives and Key Results, are how organizations track progress, create alignment and encourage engagement around measurable goals <ref name="What Matters"> Panchadsaram, R., & Prince, S. (2020, September 9). What is an OKR? Definition and examples. What Matters. https://www.whatmatters.com/faqs/okr-meaning-definition-example/ </ref>.		Every organization has different objectives when carrying out a project, program or portfolio and these objectives have to be aligned throughout the whole organization. This article will present a collaborative goal-setting tool which allows to set both individual and team challenging goals with measurable results. OKRs, Objectives and Key Results, are how organizations track progress, create alignment and encourage engagement around measurable goals <ref name="What Matters"> Panchadsaram, R., & Prince, S. (2020, September 9). What is an OKR? Definition and examples. What Matters. https://www.whatmatters.com/faqs/okr-meaning-definition-example/ </ref>.

	No one individual – or company – can “do it all”. OKRs are really helpful in the context of goal definition process, and for leaders, they give a lot of visibility into an organization. In case of complex circumstances, the catalogue of objectives consists of different characteristics that are usually of different ~~importance~~, so it is of great importance to prioritize the different characteristics in the goal definition process <ref name="No More Muddling Through"> Züst, R., & Troxler, P. (2014). No More Muddling Through: Mastering Complex Projects in Engineering and Management (2006th ed.). Springer. </ref>. With a select set of OKRs, we can highlight ~~a few things –~~ the vital things – that must get done, as planned and on time <ref name="Measure What Matters: Superpower #1: Focus and commit to priorities"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #1: Focus and commit to priorities. Portfolio Penguin. </ref> .		No one individual – or company – can “do it all”. OKRs are really helpful in the context of goal definition process, and for leaders, they give a lot of visibility into an organization. In case of complex circumstances, the catalogue of objectives consists of different characteristics that are usually of different relevance, so it is of great importance to prioritize the different characteristics in the goal definition process <ref name="No More Muddling Through"> Züst, R., & Troxler, P. (2014). No More Muddling Through: Mastering Complex Projects in Engineering and Management (2006th ed.). Springer. </ref>. With a select set of OKRs, we can highlight the most vital things that must get done, as planned and on time <ref name="Measure What Matters: Superpower #1: Focus and commit to priorities"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #1: Focus and commit to priorities. Portfolio Penguin. </ref> .

	~~On the other hand~~, Key Results monitor how we get to the objectives, so they must be measurable and verifiable. At the end of the designated period a regular check and grade of the key results should be done. If an objective is well framed, three to five Key Results will usually be adequate to reach it.		Moreover, Key Results monitor how we get to the objectives, so they must be measurable and verifiable. At the end of the designated period a regular check and grade of the key results should be done. If an objective is well framed, three to five Key Results will usually be adequate to reach it.

	OKRs were created at Intel by Andy Grove and taught to John Doerr by him. Since then, the most innovative and best managed companies in the world have adopted them, such as Google, Netflix, Twitter, Uber, etc.		OKRs were created at Intel by Andy Grove and taught to John Doerr by him. Since then, the most innovative and best managed companies in the world have adopted them, such as Google, Netflix, Twitter, Uber, etc.
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	==Benefits of applying OKR==		==Benefits of applying OKR==

	Many of the biggest companies in the world such as Google, Facebook or Zalando are using OKRs, what proves the great benefits they have. The unmistakable advantages of OKRs, also called the four OKR ~~“superpowers”~~ are focus, align, track, and stretch <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>.		Many of the biggest companies in the world such as Google, Facebook or Zalando are using OKRs, what proves the great benefits they have. The unmistakable advantages of OKRs, also called the four ''OKR Superpowers'', are focus, align, track, and stretch <ref name="Measure What Matters: Google, Meet OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Google, Meet OKRs. Portfolio Penguin. </ref>.

	• '''Focus on key Objectives.''' High-performance organizations home in on work that is important and are equally clear and what does not matter. OKRs impel leaders to make hard choices. They are a precision communication tool for departments, teams, and individual contributors. In order to measure what really matters, managers have to begin with questions such as: What is the most important for the next X months? What are our priorities for the coming period? Where should people concentrate their efforts? By standing firmly behind a few top-line OKRs, they give their teams a compass and a baseline for assessment.		• '''Focus on key Objectives.''' High-performance organizations home in on work that is important and are equally clear and what does not matter. OKRs impel leaders to make hard choices. They are a precision communication tool for departments, teams, and individual contributors. In order to measure what really matters, project managers have to begin with questions such as: ''What is the most important for the next X months? What are our priorities for the coming period? Where should people concentrate their efforts?'' By standing firmly behind a few top-line OKRs, they give their teams a compass and a baseline for assessment.
	As Steve Jobs understood, Innovation means saying no to one thousand things. In most cases, the ideal number of quarterly OKRs will range between three and five, only the ones that really matter should be set <ref name="Measure What Matters: Superpower #1: Focus and commit to priorities"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #1: Focus and commit to priorities. Portfolio Penguin. </ref>.		As Steve Jobs understood, ''Innovation means saying no to one thousand things''. In most cases, the ideal number of quarterly OKRs will range between three and five, only the ones that really matter should be set <ref name="Measure What Matters: Superpower #1: Focus and commit to priorities"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #1: Focus and commit to priorities. Portfolio Penguin. </ref>.

	• '''Transparency for all parties involved and thus the possibility of mutual assistance.''' With OKR’s transparency, everyone’s goals are openly shared. Individuals link their objectives to the company’s game plan, identify cross dependencies, and coordinate with other teams. By connecting each contributor to the organization’s success, top-down alignment brings meaning to work. By deepening people’s sense of ownership, bottom-up OKRs foster engagement and innovation. Research shows that public goals are more likely to be attained that goals held in private. In an OKR system, the most junior staff can look at everyone’s goals, and critiques and corrections are out in public view. Contributors can weigh in even in the goal-setting process itself if they consider so. OKR’s transparency knit each individual’s work to team efforts, department projects, and the overall mission. OKRs are the vehicle of choice for vertical alignment <ref name="Measure What Matters: Superpower #2: Align and connect for teamwork"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #2: Align and connect for teamwork. Portfolio Penguin. </ref>.		• '''Transparency for all parties involved and thus the possibility of mutual assistance.''' With OKR’s transparency, everyone’s goals are openly shared. Individuals link their objectives to the company’s game plan, identify cross dependencies, and coordinate with other teams. By connecting each contributor to the organization’s success, top-down alignment brings meaning to work. By deepening people’s sense of ownership, bottom-up OKRs foster engagement and innovation. Research shows that public goals are more likely to be attained that goals held in private. In an OKR system, the most junior staff can look at everyone’s goals, and critiques and corrections are out in public view. Contributors can weigh in even in the goal-setting process itself if they consider so. OKR’s transparency knit each individual’s work to team efforts, department projects, and the overall mission. OKRs are the vehicle of choice for vertical alignment <ref name="Measure What Matters: Superpower #2: Align and connect for teamwork"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: Superpower #2: Align and connect for teamwork. Portfolio Penguin. </ref>.
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	==OKR VS ancestor, MBO==		==OKR VS ancestor, MBO==

	In 1954, in his book The Practice of Management, Drucker started developing the principle of MBO, Management by Objectives. It became Andy Grove’s foundation and the genesis of what we now call the OKR <ref name="Measure What Matters: The Father of OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: The Father of OKRs. Portfolio Penguin. </ref>. However, MBO’s limitations arose immediately. MBOs centrally planned the objectives and distribute them down through the hierarchy, they lacked frequent updating and they were tied to salaries and bonuses.		In 1954, in his book ''The Practice of Management'', Drucker started developing the principle of MBO, Management by Objectives. It became Andy Grove’s foundation and the genesis of what we now call the OKR <ref name="Measure What Matters: The Father of OKRs"> Doerr, J. (2018). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth: The Father of OKRs. Portfolio Penguin. </ref>. However, MBO’s limitations arose immediately. MBOs centrally planned the objectives and distribute them down through the hierarchy, they lacked frequent updating and they were tied to salaries and bonuses.
	The MBO system’s main objective was getting the highest efficiency from the employees, and it was used as an evaluation system to set rewards. Moreover, it was not transparent at all, and employees just followed their leaders.		The MBO system’s main objective was getting the highest efficiency from the employees, and it was used as an evaluation system to set rewards. Moreover, it was not transparent at all, and employees just followed their leaders.
	On the other hand, OKRs are focused on aligning the whole organization with the strategic objectives and all employees know the OKRs for all the company.		On the other hand, OKRs are focused on aligning the whole organization with the strategic objectives and all employees know the OKRs for all the company.
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	• OKRs are just list of objectives with their corresponding key results, but they do not reflect on the relationship between different objectives and how one objective might feed into another. However, a strategy map approach shows the relationship between objectives and helps to ensure everyone is moving in the same direction.		• OKRs are just list of objectives with their corresponding key results, but they do not reflect on the relationship between different objectives and how one objective might feed into another. However, a strategy map approach shows the relationship between objectives and helps to ensure everyone is moving in the same direction.

	• There is a great risk of setting too many OKRs. OKR system has a very simple list format, there’s no structure to adhere to. The possibility of adding limitless objectives can lead to ~~objective~~ overload. As it was mentioned before, with OKR less is more, and it is far better to stick to top priorities only. Whereas a strategy map would only focus attention on the very top strategic priorities <ref name="Bernard Marr"> (2020). ''What Are The Pros And Cons Of Using OKR?''. What are the Pros and Cons of Using OKR? (2020). Bernard Marr. https://www.bernardmarr.com/default.asp?contentID=1461 </ref>.		• There is a great risk of setting too many OKRs. OKR system has a very simple list format, there’s no structure to adhere to. The possibility of adding limitless objectives can lead to an overload. As it was mentioned before, with OKR ''less is more'', and it is far better to stick to top priorities only. Whereas a strategy map would only focus attention on the very top strategic priorities <ref name="Bernard Marr"> (2020). ''What Are The Pros And Cons Of Using OKR?''. What are the Pros and Cons of Using OKR? (2020). Bernard Marr. https://www.bernardmarr.com/default.asp?contentID=1461 </ref>.

	==Goal-setting failure==		==Goal-setting failure==
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	*'''Doerr, J. (2018a). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin.'''		*'''Doerr, J. (2018a). Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth. Portfolio Penguin.'''
	:- ''Measure What Matters'' shows how to implement the OKR system—Objectives and Key Results—for any team or organization. This book contains the history of OKRs, several case studies, and a nice combination of OKR theory and a focus on people. I would suggest the book as a must-read for anyone who is interested in learning about OKR. The book is especially interesting as the author tells its personal experience with OKR and how he introduced it to Google, besides of many big companies’ cases which have been really successful by using OKRs. The book considers OKRs especially at a ~~company~~ level, however it is easy to extrapolate it to a project, program and portfolio management approach.		:- ''Measure What Matters'' shows how to implement the OKR system—Objectives and Key Results—for any team or organization. This book contains the history of OKRs, several case studies, and a nice combination of OKR theory and a focus on people. I would suggest the book as a must-read for anyone who is interested in learning about OKR. The book is especially interesting as the author tells its personal experience with OKR and how he introduced it to Google, besides of many big companies’ cases which have been really successful by using OKRs. The book considers OKRs especially at a organizational level, however it is easy to extrapolate it to a project, program and portfolio management approach.

	*'''Wodtke, C. R., & Cagan, M. (2016). Radical Focus: Achieving Your Most Important Goals with Objectives and Key Results. Cucina Media LLC.'''		*'''Wodtke, C. R., & Cagan, M. (2016). Radical Focus: Achieving Your Most Important Goals with Objectives and Key Results. Cucina Media LLC.'''