In the previous article, we got to learn a bit about OKR. This time, we will learn and understand better about how to set goals using Objectives, & Key results technique.
Here are 3 things that tell you have great OKR:
Aspire the team
The objective should create a challenge for the organization and the team at the just right level. If you set too challenging goal that makes you feel it is impossible, it might fail even if you have utilize all resources you have. If the objective is too easy, for example a task that can always be 100% achieved, this is too little challenging. As earlier said, you don’t have to make 100% achievement all the time. If you have quite a tough target and think you will be able to achieve 60-70% of the goal, that’s good enough. What you will have to do is to find the balance between miracle and reality and make it happen.
You can measure the objective through the observation of individual Key Result. For example, if the objective is to expand product availability to 50 countries, and you have done so in 30-35 countries, this is considered a very good result.
Be independently actionable
Each key result needs to have individual responsible person. If you wish to try OKR, you will then have to monitor the implementation result. Sprint Master will be the one responsible for overall supervision for the entire OKR system. Each week, OKR should be reviewed using tools like Trello, a special general administration and management program. Team meeting should be called. In the beginning, the company founder should be responsible for this. Once everyone understands the system, then the role should be assigned to other.
For OKR, objective should be set on monthly basis while key results are based on weekly basis. Regular weekly monitoring should be implemented, called OKR Sprints. This will enable us to monitor the progress we have achieved towards the goal. Then we can adjust the plan and action accordingly. The finding will also show whether our goal is too easy or too difficult.
Digital Ventures Accelerator (DVAb0) have tried and tested the OKR practice.
OKR is a technique adopted by global companies. It is a rare topic ever discussed in Thailand. We have to thank Seedstars and Digital Ventures Accelerator (DVA) for bringing us interesting information and knowledge at this Bootcamp.