8 OKR examples for Contract Management Team

What are Contract Management Team OKRs?

The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.

Writing good OKRs can be hard, especially if it's your first time doing it. You'll need to center the focus of your plans around outcomes instead of projects.

We have curated a selection of OKR examples specifically for Contract Management Team to assist you. Feel free to explore the templates below for inspiration in setting your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

The best tools for writing perfect Contract Management Team OKRs

Here are 2 tools that can help you draft your OKRs in no time.

Tability AI: to generate OKRs based on a prompt

Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.

• 1. Create a Tability account
• 2. Click on the Generate goals using AI
• 3. Describe your goals in a prompt
• 4. Get your fully editable OKR template
• 5. Publish to start tracking progress and get automated OKR dashboards

Watch the video below to see it in action 👇

Tability Feedback: to improve existing OKRs

You can use Tability's AI feedback to improve your OKRs if you already have existing goals.

• 1. Create your Tability account
• 2. Add your existing OKRs (you can import them from a spreadsheet)
• 3. Click on Generate analysis
• 4. Review the suggestions and decide to accept or dismiss them
• 5. Publish to start tracking progress and get automated OKR dashboards

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

Contract Management Team OKRs examples

You will find in the next section many different Contract Management Team Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).

Hope you'll find this helpful!

OKRs to achieve full contract coverage

OKRs to achieve efficiency in contract reviews and legal cost reduction

OKRs to streamline contract administration procedures for enhanced efficiency

OKRs to optimize energy efficiency program vendor management and contracts

OKRs to successfully optimize a contract operations project

OKRs to establish robust security controls for DHS/ATO and NATO contracts

OKRs to broaden understanding of royalty components in contracts

OKRs to secure renewal of OnPoint clients with updated agreement

Contract Management Team OKR best practices

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tip #2: Commit to weekly OKR check-ins

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.

Being able to see trends for your key results will also keep yourself honest.

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

Save hours with automated OKR dashboards

OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:

• It brings the goals back to the top of the mind
• It will highlight poorly set OKRs
• It will surface execution risks
• It improves transparency and accountability

Spreadsheets are enough to get started. Then, once you need to scale you can use Tability to save time with automated OKR dashboards, data connectors, and actionable insights.

How to get Tability dashboards:

• 1. Create a Tability account
• 2. Use the importers to add your OKRs (works with any spreadsheet or doc)
• 3. Publish your OKR plan

That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.

More Contract Management Team OKR templates

We have more templates to help you draft your team goals and OKRs.

• OKRs to full deployment of Ember and Abnormal Security tools in SecOps
  ember-and-abnormal-security-tools100%-operational-statusit-teamsecops-teaminformation-technology-teamsecurity-operations-team
• OKRs to implement robust OKR framework for enhancing organisational efficiency
  okr-frameworkoperational-efficiencytraining-coordinatorperformance-analysttraining-and-developmentperformance-management
• OKRs to attain an affordable, emissions-free vehicle
  emissions-free-vehiclesaffordable-carsresearch-analystnegotiatorresearch-teamnegotiation-team
• OKRs to enhance effectiveness of ITSM help desk operations
  customer-serviceefficiencycustomer-service-representativeitsm-operations-manageritsm-help-desk-teamcustomer-service-team
• OKRs to establish robust connections to the Database via Pgadmin
  database-connectiondata-retrieval-and-modificationdatabase-administratorsystem-administratordatabase-management-teamsystem-administration-team
• OKRs to establish a comprehensive Career Development Program
  career-development-programinternal-promotionhr-managerdepartment-managershuman-resourcesdepartmental-teams