Tability is a cheatcode for goal-driven teams. Set perfect OKRs with AI, stay focused on the work that matters.
What are Product Development 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.
Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.
We've tailored a list of OKRs examples for Product Development to help you. You can look at any of the templates below to get some inspiration for 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 Product Development 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.
Product Development OKRs examples
We've added many examples of Product Development Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.
Hope you'll find this helpful!
OKRs to develop and launch a range of sub-products
ObjectiveDevelop and launch a range of sub-products
KRIdentify 10 potential sub-products from existing product by week 4
Analyze market for existing product spin-offs potential- Review existing product features for spin-off potential
- Conduct a brainstorming session with product team
- KRSuccessfully launch 3 refined sub-products in the market by week 12
- Officially launch sub-products in market by week 12
- Plan marketing and distribution strategies by week 8
- Finalize specifications and improvements of sub-products by week 4
- KRComplete development of 5 sub-products for testing by week 8
- Prioritize and assign development roles for each sub-product
- Ensure continuous monitoring and progress reports
- Finalize and prepare sub-products for testing
OKRs to increase efficiency and effectiveness of product development through continuous process improvement
- ObjectiveIncrease efficiency and effectiveness of product development through continuous process improvement
- KRAchieve a customer satisfaction rating of 90% by addressing product development pain points and enhancing quality
- KRDecrease resource wastage by 10% through optimized resource allocation and utilization
- Identify and prioritize areas where resource wastage is currently occurring
- Monitor and track resource usage regularly to ensure ongoing reduction in wastage
- Implement streamlined processes and systems to improve resource allocation and utilization efficiency
- Conduct a thorough assessment of current resource allocation and utilization practices
- KRIncrease the percentage of successful product launches by 15% through improved workflows and collaboration
- Foster cross-functional collaboration through regular team meetings and knowledge sharing sessions
- Conduct a thorough analysis of existing workflows to identify bottlenecks and inefficiencies
- Implement a project management tool to streamline communication and task tracking
- Establish a feedback loop with stakeholders to continuously improve product launch processes
- KRReduce product development cycle time by 20% through streamlined processes and automation
OKRs to enhance Product Development Efficiency through Metrics and Tools
- ObjectiveEnhance Product Development Efficiency through Metrics and Tools
- KRDevelop and implement 3 new performance metrics for evaluating product development progress
- Formulate three new applicable performance metrics
- Identify key areas for improvement in product development process
- Implement metrics into ongoing project evaluation
- KRProcure and integrate 2 productivity-enhancing tools into the product development process
- KRIncrease product development speed by 20% using efficiency-focused operational methods
- Streamline communication processes for faster decision-making
- Provide efficiency training for product development team
- Implement agile methodology for quicker development cycles
OKRs to formulate and Implement a robust Business and Product Strategy
- ObjectiveFormulate and Implement a robust Business and Product Strategy
- KRImplement and test product strategy with a minimum viable product in 6 weeks
- Develop a prototype of the minimum viable product
- Implement a detailed product strategy
- Conduct rigorous testing and gather feedback
- KRDevelop a comprehensive business strategy with measurable goals within 3 weeks
- Draft a comprehensive, strategic business plan
- Define measurable, time-bound business goals
- Research market trends and study competitors for business strategy formulation
- KRIdentify and analyse 5 key competitor business strategies within next quarter
- Identify 5 main competitors in the market
- Analyze each strategy's effectiveness and performance
- Research and note down their business strategies
OKRs to implement operational excellence in product development
- ObjectiveImplement operational excellence in product development
- KRTrain 100% of development team on Lean Six Sigma tools by quarter end
- Provide training material to all team members
- Schedule Lean Six Sigma training sessions for the team
- Confirm all team members complete the training
- KRReduce product development cycle time by 20%
- Provide employee training on rapid prototyping techniques
- Implement efficient project management methodologies
- Streamline approval processes and eliminate unnecessary steps
- KRIntroduce 3 new metrics to monitor operational efficiency in product development process
- Implement tracking systems for chosen metrics
- Identify potential metrics for tracking operational efficiency
- Train team on understanding and utilizing new metrics
OKRs to launch a viable, user-friendly SaaS product
- ObjectiveLaunch a viable, user-friendly SaaS product
- KRAchieve a customer satisfaction score of above 85%
- Develop a proactive customer communication strategy for problem resolution
- Implement a customer feedback system to identify improvement areas
- Train staff in customer service protocols and problem-solving
- KRDevelop MVP with essential features by involving 10 beta testers
- Gather and integrate feedback to refine MVP features
- Identify the essential features needed for MVP development
- Recruit 10 beta testers for product evaluation
- KRObtain initial sign ups exceeding 50 customers
- Develop enticing advertising campaign targeting potential customers
- Launch sign-up incentive program or promotional offers
- Maximize reach through social media marketing strategies
OKRs to enhance maturity and capabilities of Product Owners
- ObjectiveEnhance maturity and capabilities of Product Owners
- KRImplement peer-based feedback system to improve Product Owners' performance
- Design a structured and anonymous peer-review feedback form
- Integrate peer-review feedback system into performance evaluations
- Train Product Owners on giving and receiving feedback
- KRIncrease Product Owners' certification rate by 30%
- Schedule regular certification exam preparation sessions
- Develop a comprehensive in-house owners' certification training program
- Implement incentives for achieving certification
- KRConduct 2 advanced level training sessions for all Product Owners
- Prepare comprehensive materials for two sessions
- Schedule and conduct two advanced training sessions
- Identify topics relevant to advanced Product Owner training
OKRs to enhance product compatibility for Windows and Linux platforms
- ObjectiveEnhance product compatibility for Windows and Linux platforms
- KRDevelop and implement necessary changes to make product functional on Windows and Linux platforms
- Implement, test and adjust changes for both platforms
- Identify required modifications for cross-platform functionality
- Review product's current performance on Windows and Linux platforms
- KRAchieve a 90% customer satisfaction rate for product performance on Windows and Linux
- Train customer service staff to enhance customer experience
- Develop regular feedback sessions with customers for improvements
- Implement rigorous product testing on Windows and Linux platforms
- KRSuccessfully execute testing on both Windows and Linux environments
- Install necessary testing tools on both Windows and Linux systems
- Document discrepancies and performance results for analysis
- Conduct functionality and compatibility tests on both environments
OKRs to improve the overall client experience
- ObjectiveImprove the overall client experience
- KRIncrease client satisfaction score by 20% through effective communication strategies
- Train staff on effective communication and people skills
- Initiate proactive and regular check-in calls with clients
- Implement regular client feedback and assessment systems
- KRImplement 3 new features based on client feedback to boost usability
- Review client feedback for feature suggestions
- Develop 3 new features prioritizing usability
- Test and integrate the new features into the product
- KRDecrease support response time by 30% to enhance client interactions
- Implement a live chat feature for instant customer assistance
- Provide additional training to support staff
- Utilize automated responses for commonly asked questions
OKRs to successfully develop and launch new products and platforms to customers
- ObjectiveSuccessfully develop and launch new products and platforms to customers
- KRDevelop 3 unique and customer-focused products in different categories on the platform
- Prototype, test and refine the three product concepts
- Brainstorm product ideas based on research findings
- Identify customer needs through surveys and market research
- KREnsure 95% of customer service responses about the new launches are positive after launch
- Implement customer suggestions for improvement swiftly
- Train customer service team on new product details prior to launch
- Monitor and analyze customer feedback regularly post-launch
- KRAchieve a 10% increase in customer engagement within the first month of launching products
- Implement a reward system for customer referrals and reviews
- Enhance social media marketing with engaging, interactive content
- Develop a post-purchase follow-up strategy to request feedback
Product Development 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
Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.
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
Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.
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
Quarterly OKRs should have weekly updates to get all the 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
We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using 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 Product Development OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to establish an effective succession pipeline
- OKRs to drive tangible growth towards company's 2024 ambitions
- OKRs to enhance HR capabilities in conducting technical interviews
- OKRs to enhance feature delivery lead time
- OKRs to boost subscription to AI Quick Bytes newsletter
- OKRs to improve lab coat inventory management system