Objectives & Key Results (OKRs), the goal-setting framework, has gained a lot of popularity over the past few years but for some Product Managers – new and old – it remains an area of confusion. In this article, Sachin Rekhi, founder and CEO @ Notejoy, provides a great rundown on how OKRs should be implemented and provides a bunch of best practices that need to be followed.
Some of the key takeaways:
a. Define objectives that are finite, action oriented and inspiration. Then add a key result which is numeric, time-bound and measurable.
b. Measure outcomes and not output. It is the meaningful business outcomes that count and not pure output.
c. Have OKRs that are quarterly.
d. Any team should have no more than 3-5 OKRs.
e. Have a consistent scoring guideline.
Sachin does add that there are some elements of user experience, brand and business that cannot be measured numerically, which should be solved outside of the OKR system.