8 customisable OKR examples for Contract Manager
What are Contract Manager 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 Manager 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.
Building your own Contract Manager OKRs with AI
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.
Our customisable Contract Manager OKRs examples
You will find in the next section many different Contract Manager 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!
1. OKRs to achieve full contract coverage
Achieve full contract coverage
Develop and implement strategies to cover 50% of uncovered contracts by week 6- Obtain full coverage for all identified contracts by week 12
Finalize and obtain coverage for all contracts by week 12- Review and identify all existing contracts by week 9
- Start requesting full coverage quotes by week 10
- Identify and list all contracts lacking coverage by week 2
2. OKRs to achieve efficiency in contract reviews and legal cost reduction
- Achieve efficiency in contract reviews and legal cost reduction
- Implement automated legal tech tools to assist with contract reviews
- Select and purchase a suitable automated contract review software
- Train the team to use the selected tech tools effectively
- Research various automated legal tech tools available in the market
- Negotiate or reassess fees with legal service providers for 15% cost reduction
- Initiate negotiation meetings with each provider
- Research market rates for comparison in negotiations
- Identify current legal service providers and review contract details
- Decrease average contract review time by 50%
- Train staff on efficient contract reviewing techniques
- Implement automation tools to expedite contract review process
- Streamline the contract review workflow
3. OKRs to secure new clientele from three distinct sectors
- Secure new clientele from three distinct sectors
- Identify and establish contacts with 50 potential clients from different industries
- Research diverse industries to identify 50 potential clients
- Initiate contact with potential clients via email or phone
- Arrange and conduct initial client meetings or presentations
- Successfully pitch services to at least 30% of the identified potential clients
- Schedule and conduct efficient, persuasive pitch meetings
- Develop and refine customized service pitch for each client
- Identify and research potential clients' needs and interests
- Convert 15% of pitched potential clients into signed contracts
- Train team in negotiation techniques to secure contracts
- Enhance proposals with detailed, customized solutions for each client
- Improve follow-up strategies to maintain contact post-pitch
4. OKRs to secure two contracts with value at least $300,000
- Secure two contracts with value at least $300,000
- Successfully negotiate and close at least two contracts valued above $150,000 each
- Research and identify potential high-value clients
- Develop customized proposals for each client
- Conduct persuasive negotiation meetings
- Conduct 30 business proposal presentations for potential clients
- Schedule and execute 30 presentations
- Create and refine business proposal presentations
- Identify and research 30 potential clients for proposals
- Identify and reach out to 50 potential clients by the end of the quarter
- Send outreach messages to each potential client
- Draft a personalized outreach message for each contact
- Create a list of 50 potential clients relevant to our business
5. OKRs to successfully optimize a contract operations project
- Successfully optimize a contract operations project
- Implement optimizations in top-priority area and achieve 20% efficiency increase
- Monitor and ensure 20% efficiency increase
- Develop and implement efficiency improvement strategies
- Identify top-priority area requiring optimization
- Identify and prioritize 5 potential areas for improvement by end of Week 3
- Rank the areas based on urgency and potential impact
- Identify 5 areas in need of improvement within the operations
- Analyze the importance and impact of each area
- Document the optimization process with insights to guide future projects
- Create a guide based on insights for future projects
- Analyze and record insights gained from the optimization
- Document all steps taken during process optimization
6. OKRs to achieve a flawless state contract compliance audit
- Achieve a flawless state contract compliance audit
- Attain 100% completion of compliance training for all team members
- Assign compliance training to all team members
- Monitor progress and follow up
- Send reminders to complete the training
- Demonstrate complete adherence to stipulated protocols in all contract documentation
- Review all contracts for compliance with specified protocols
- Implement checks for protocol adherence in contract creation
- Attend training to understand protocol requirements
- Implement biweekly audit preparation meetings for 100% staff participation
- Communicate meeting schedule and expectations to all staff members
- Define agenda and frequency for biweekly audit preparation meetings
- Monitor attendance and actively encourage 100% participation
7. OKRs to secure a new project contract with a new client
- Secure a new project contract with a new client
- Identify and establish contact with 50 potential new clients within the industry
- Research to compile a list of 50 potential clients within the industry
- Send emails to identified potential clients
- Draft a personalized introductory email to establish contact
- Submit high-quality proposals to at least 20 new prospective clients
- Develop robust, customized proposals for each client
- Submit the proposals and follow up promptly
- Identify 20 potential new clients and research their needs
- Successfully negotiate and finalize at least one contract with a new client
- Identify and research potential new clients
- Craft and send personalized business proposals
- Arrange negotiation meetings to finalize contract
8. OKRs to increase account expansion by securing contract renewals for 90% of existing clients
- Achieve a high rate of contract renewals for existing clients
- Increase customer satisfaction rates by 15% via feedback surveys
- Improve account management processes to reduce churn by 10%
- Outperform monthly revenue targets by 20% to upsell and cross-sell
- Launch a customer referral program to generate 30% new business from existing clients
Contract Manager OKR best practices to boost success
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.
Tability's audit dashboard will highlight opportunities to improve OKRsTip #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.
Tability's check-ins will save you hours and increase transparencyTip #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.
How to turn your Contract Manager OKRs in a strategy map
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 a proper OKR platform to make things easier.
Tability's Strategy Map makes it easy to see all your org's OKRsIf you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More Contract Manager OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to increase LinkedIn activity on the company page
- OKRs to implement strategic planning framework for goal alignment
- OKRs to establish powerful brand's core messaging and voice
- OKRs to make business travel process fully digital
- OKRs to enhance review frequency for financial statements
- OKRs to enhance risk management approaches in our tech organization
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: What is the meaning of OKRs
- Blog posts: ODT Blog
- Success metrics: KPIs examples
What's next? Try Tability's goal-setting AI
You can create an iterate on your OKRs using Tability's unique goal-setting AI.
Watch the demo below, then hop on the platform for a free trial.