/
PROJECT MANAGERS
OKRs, or Objectives and Key Results, is a goal-setting methodology that helps organisations set clear goals and keep teams aligned during the quarter.
It focuses on the impact of the work rather than deadlines and deliverables. As such, some may argue that OKRs aren't that useful for project managers but that would be ignoring the clear benefits that OKRs have when it comes down to optimising existing processes.
Project managers can rely on traditional planning to ensure that work is complete in scope and on time. But they can also use OKRs in parallel to improve efficiencies.
OKRs can also be useful to help define what success looks like for long-term projects. It will help stakeholders and individual contributors to share a common understanding of the expected impact when the project is delivered.
We'll see in this guide some tips to help you write good OKRs, as well as some specific examples for developers.
The main challenge for project managers starting with OKRs is to switch their focus away from outputs, and considered the related outcomes instead.
It is critical for them to understand the difference between Objectives, Key Results, and projects:
A common mistake is to start listing all your existing initiatives as Key Results. Yes, these projects are important, but your OKRs should not be a different way to represent your roadmap.
Good Objectives should be inspiring and easy to understand by anyone in the company.
Good Key Results should help you measure progress toward your Objective. A simple test is to ask, "would we do things differently if this KR goes off-track?". If the answer is negative, then you need to refine your OKR.
Finally, your projects are the bets that you make to achieve your OKRs. Double down on the things that work, and drop those that aren't producing results.
The next step is to pick the correct focus for the quarter. Here are some examples that apply to Project Management:
Once you have your theme in place, you can go further and turn them into inspiring statements for the team. They'll become the starting point of your OKRs.
Once you've narrowed your focus, you can start writing your OKRs. You'll see some examples below, and here's a complete guide on how to quickly write great OKRs.
Improve project management effectiveness
Increase customer satisfaction from 65% to 80%
Bring project completion rate up by 10%
Reduce project timeline overruns by 20%
Keep budget variance below 25%
The ACH Payment project is on track for next quarter
We have achieved our 4 main development milestones
25 transactions have been completed on the internal beta
The team has completed 20 UX testing sessions
Increase profitability of projects
Reduce operational delivery costs by 8%
Reduce project delivery cycle time by 20%
Increase customer satisfaction ratings by 10%
Get faster releases through automation
Increase the number of production deployments from 1/week to 4/week
Reduce the mean lead time for changes from 8 days to 72h
Reduce build time from 20mins to 5mins
100% of our services have a Continuous Delivery pipeline
Launch a successful mobile app MVP
Get 100 daily active users on mobile by the end of the quarter
Mobile application NPS is above 30
25% of new active users install the mobile app
Achieve 60% week-4 retention in our mobile application for active users
Significantly improve the timeliness of projects
Reduce the number of adjustments by 20%
Achieve a customer satisfaction score of 90% or higher
Increase the overall on-time project delivery rate to 95%
Be on track for a successful launch next quarter
Build a mailing list of 1,0000 people
100% of core features have been completed
Ensure that we have a NPS of 40 or above pre-launch
Secure 10 press articles with known publications
Knowing how to write good OKRs is critical, but without good tracking in place, the OKRs will fade away and focus will be lost.
The easier it is for a team to have weekly discussions around the OKRs, the better they'll execute. Here are a few best practices for tracking OKRs.
Quarterly OKRs should be tracked every week to be effective. Without a continuous reflection on progress, your OKRs won't be much different from having KPIs.
The check-ins process can be automated with a platform like Tability that takes care of reminders, and distribute updates to the teams.
Good progress updates should help everyone understand how far we are from our goal, but also how confident we are in achieving it. You can use a simple red/yellow/green color coding to indicate your confidence.
Lastly, it's important to look at trends to avoid false positives. It's not rare for a team to have a hot start and then slow down mid quarter. This will be hard to see unless you can look at progress trends for individual Key Results.
Now that you've got good Objectives, it's time to pick some key results and finding good metrics that work for your team can be tricky. Lucky for you, we've laid out all the best success metrics for your teams to use.
Here are a few to get you started:
Cycle time
The time needed to complete a certain task or activity
On-time completion percentage
How many projects or tasks were completed in time.
Budget variance
The difference between estimated budget at the start, and actual costs at the end of a project.
Planned value
The value of what's left to complete in a project
Customer satisfaction
How satisfied customers are with the quality of the project(s).
Net promoter score
NPS is a metric that represent the likeliness of a customer to recommend your service.
Customer complaints
How many complaints/bugs/issues have been filed by customers (internal or external).
Average cost per hour
The average cost per hour for the complete delivery of a project.
Number of change requests
How many times a customer has requested a change on a project.
Got an objective in mind, but not sure how to get there?
Tability's free AI can create a detailed strategy with all the steps to take to reach your goals.
Generate your strategy with AIWant more OKRs? Check out our free OKR template library.