Chances are that in some point of your life you have used some kind of Key Performance Indicators. With OKRs there are Key Results and that can be confusing. Don’t worry they are almost exactly the same thing. So, if you have used KPI’s you already have a upper hand in using key results.
The Key Result portion of the OKR is a measurement that supports the Objective. Therefore, the Key Result actually incorporates the KPI. In other words, everyone who uses OKRs is also automatically using KPIs.
The Matrix is a 4-square grid. The top 2 boxes are respectively labeled Urgent and Not Urgent at the top. The top row is labeled Important to the left, and the bottom row is labeled Not Important.
The Eisenhower matrix expedites time management. You list all the tasks for your day in one or another of the boxes. As you list them in the box, do so by priority. When finished, address the Urgent/Important Tasks immediately and dismiss the Not Urgent/Not Important tasks.
If possible, delegate the items in the Urgent/Not Important box or leave them for the future, when there are no more important tasks. The Non Urgent/Important tasks should be assigned a completion date, but they should never take priority over Urgent/Important tasks.
PPP or “Plans, Progress, Problems” is one of the easiest weekly reporting methodologies. You can use this weekly review process to report on the tasks you do in order to advance your OKRs.
As with OKRs, Key Results should be updated on a weekly basis, PPP allows you to set plans, tie your Plans to your KRs and once you have accomplished your tasks, you can update your Key Results.
‘Weekly status reporting consists of 3 different questions or categories:
- Plans. What are you planning? (Future);
- Progress. What have you done? (Past);
- Problems. What problems are you facing? (Present).
Each week employees answer these questions (without writing long essays) and a manager can get an overview of what’s going on.
Weekly reporting is used successfully in companies like Skype and startup accelerators like Seedcamp. Companies like deverus also use PPP in collaboration with OKRs. That helps them keep future goals in mind while doing PPP reports.
For your convenience, Weekdone takes care of the tedious process of asking for reports and tracking everyone down. It makes employees send you their individual “done” reports, and compiles everything into an understandable team and company report.
You can read more about PPP from Weekdone weekly reporting page
SMART is an acronym for:
- Specific – they are clearly understood by everyone in the team
- Measurable – you can always get a clear idea of how well you’re doing
- Achievable – when planning, there’s no point in deciding to fulfill all dreams in a year. Make sure you think what you really could do.
- Relevant – the goals you set must be important for your company. The goal shouldn’t be “Let’s hire 20 people” but “Let’s increase the revenue enough in order to hire 20 people.”
- Time-bound – they have a specific due date for completion to resist the urge to say “okey, we’ll do it next year.”
SMART methodology is often used when setting Objectives as it makes sure your objectives are well thought out and focused enough.
OKRs work best if KR performance is measured regularly. You can use a combination of weekly status reporting and OKRs by linking each weekly task to a KR. If a weekly task can not be linked to a KR, you need to think long and hard if the task is necessary to achieve your goals.
Smart goals follow the SMART framework for goal setting.
Smart goals are:
- Specific: is the KR well-defined and understandable for everyone?
- Measurable: can you measure success or failure?
- Achievable: is it realistically possible to do?
- Relevant: is this KR important for your objective?
- Time-bound: have I clearly established when the goal must be met? For OKRs this time is usually one quarter
You can read more about SMART goals from Weekdone’s SMART goals.
You can use the Eisenhower Matrix for your goal setting. The Matrix is a 4-square grid. The top 2 boxes are respectively labeled Urgent and Not Urgent at the top. The top row is labeled Important to the left, and the bottom row is labeled Not Important.
You list all your goals in one or another of the boxes. As you list them in the box, do so by priority. When finished, address the Urgent/Important Goals immediately and dismiss the Not Urgent/Not Important tasks.
Once you’ve gotten comfortable and have decided on the tool to manage your OKRs it’s time to transfer them over and import them. The classic way to do this is through copying and pasting your objectives from spreadsheets into the tool.
You can also read a detailed guide about moving from spreadsheets to Weekdone.
The birth of OKRs can be traced back to Peter Drucker, one of the first managerial thinkers, who, in the 1950s introduced a system called “Management by Objectives” (MBOs) that called for setting objectives for everyone who works in a company. These goals had to “lay out what contributions a given individual and their unit are expected to make to help other units obtain their objectives.
So, you could say OKRs are a more advance version of MBOs.
Ask our OKR experts any question about Transition from other goal-setting methods.