For the purpose of not overwhelming anyone with management theories or philosophies we will outline the skeleton of what OKRs are and how we have implemented them into our organization.
For a deep dive into the OKR methodology we recommend you do some reading from the Source John Doer on his site WhatMatters.com or this guide.
OKR stands for Objective Key Result.
What is an Objective?
A guiding statement for where you want to go. It sets the direction. They do not contain metrics.
EX. “To be the go-to infrastructure option for the Ethereum ecosystem.”
The use of Objectives varies depending on the scope of impact you are operating under.
Organizations: Should have no more than 5 Objectives.
Departments: Should have no more than 3 Objectives.
Projects: Should have no more than 2 Objectives.
What is an Objective Key Result(OKRs)?
A measurable outcome that indicates that we are making progress towards the objective.
EX. “Increase API requests from Ethereum applications by 50% month over month.”
Each objective should have no more than 4 OKRs. This applies at every scope of impact.
The beauty of OKRs is that they force us to think in terms of measurable outcomes, and guide us to set aggressive but manageable goals. It turns out with the right mindset, and proper framing, almost anything can be observed and measured.
“Update Pocket Player’s Handbook”
“To update the Pocket Player’s Handbook to better reflect the insights gained this past quarter and make it more useful”
Bad OKR - “Fix the OKR section”
Good OKR - “Revise Sections 4, 5, and 6 of Pocket Player’s Handbook to reflect the decisions made in the Strategic Meeting 01/01/2020 by 01/15/2020. ”
Objectives and Key Results are what forms the basis of our prioritization as an organization.
Each scope of impact informs the layers below it, which allows for more freedom to execute while keeping everyone moving in the same direction.
If you would like to workshop some OKRs, feel free to ask for help.