Every organization, small or big, has to make sure that everybody is on the same track in order to reach their goals. Vision needs to be mapped to strategy and strategy to concrete goals which everybody inside the organization is aware of. OKRs is one of the frameworks that helps organizations to achieve that and there is a number of large companies (Google amongst them) that are successfully using it to navigate their growth.
OKRs stands for Objectives and key results. The main idea is that you set a goal (or objective) that you want to achieve and then set a list of key results which are necessary to consider the goal achieved. Lumeer’s OKRs template will help you with that.
There is one important thing about the key results: they have to be measurable.
“Increase the number of customers” is not a good example, as it is hard to tell if the key result was achieved – is it enough to get one more customer? Then your key result is “Increase the number of customers by one”.
Do you want to increase the number by 10%? Then your key result is “Increase the number of customers by 10%”.
Key results are results that need to be achieved, but we are still missing one important thing here. We need actionable items to be performed and assigned to concrete people. In the template, we call them Initiatives:
There is another view in the template that shows you how Initiatives are assigned to Employees. Notice how colour coding shows the progress at the first sight:
Key results are to be achieved over a mid-term period, but Initiatives have a much shorter timespan. Timeline is an ideal perspective for data that represent event that has duration.
Now let’s get to actual tracking of the progress. Everything that should be automated can automated in Lumeer!
First, key result’s Progress is calculated from Start, Target and State values by a function (denoted by a small “f(x)” symbol):
Then, objective’s Progress is calculated by a function from its key results (also denoted by “f(x)”):
That means that you don’t have to watch and manually update progress values: by updating State of the key result, both Progress values are updated automatically!
You can then view Objectives in a chart to see their progress immediately:
The template also contains a view for displaying progress of key results by quarter. We have to admit that sum of progress values (which is set up in the template) maybe isn’t the best metric. No worries – we easily change it from sum to average and save the new configuration:
After you set those OKRs, well, there is nothing less to do than to work on them (which only you have the knowledge and expertise to do) and track them to see if you are going in the right direction!