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tability.ioWhat are Project Risk Management 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 Project Risk Management 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.
Project Risk Management OKRs examples
You'll find below a list of Objectives and Key Results templates for Project Risk Management. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.
Hope you'll find this helpful!
OKRs to implement effective project risk management strategies
ObjectiveImprove project risk management
KRReduce overall project risk by 20% through early identification and mitigation- KRIncrease team's risk management maturity level by 2 points through training and coaching
- KRImplement a risk management tracking tool with 100% team adoption and utilization
- KRReduce project delay and budget overruns by 15% through proactive risk monitoring and response
OKRs to enhance technical risk assessment procedures
- ObjectiveEnhance technical risk assessment procedures
- KRConduct risk assessments for all major ongoing projects
Identify all major ongoing projects requiring risk assessments- Assign a qualified team to conduct risk assessments
- Review and monitor assessment results regularly
- KRImplement an integrated risk management solution by the quarter end
- Configure the chosen solution to fit company-specific needs
- Research and select an appropriate integrated risk management solution
- Train staff to use the newly implemented system
- KRReduce the number of identified high-risk issues by 20%
- Implement preventive measures for top risk issues
- Monitor and evaluate implemented preventive measures
- Identify root causes of current high-risk issues
OKRs to mitigate the risk associated with software maintenance
- ObjectiveMitigate the risk associated with software maintenance
- KRImplement efficient risk management model for 90% of maintenance projects
- Develop a comprehensive risk management model for maintenance projects
- Apply the model to current maintenance projects for evaluation
- Train project managers in risk management implementation
- KRAchieve zero unresolved critical issues for all maintained software
- Train staff in proactive problem identification and resolution
- Implement regular system checks for software performance
- Establish efficient issue reporting and resolution procedures
- KRProvide tailored training for all software engineers on identified critical areas
- Schedule and conduct tailored training sessions for engineers
- Develop customized training programs focusing on these critical areas
- Identify critical areas needing tailored training for software engineers
OKRs to eliminate high-risk tech debt over the next year
- ObjectiveReduce high-risk tech debt to improve system stability
- KRConduct a thorough analysis to measure the impact of eliminating each high-risk tech debt item
- KROutline and prioritize initiatives to eliminate each high-risk tech debt item
- KRComplete the elimination of at least 50% of high-risk tech debt items
- KRIdentify top 10 high-risk tech debt items
How to write your own Project Risk Management OKRs
1. Get tailored OKRs with an AI
You'll find some examples below, but it's likely that you have very specific needs that won't be covered.
You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.
- 1. Go to Tability's plan editor
- 2. Click on the "Generate goals using AI" button
- 3. Use natural language to describe your goals
Tability will then use your prompt to generate a fully editable OKR template.
Watch the video below to see it in action 👇
Option 2. Optimise existing OKRs with Tability Feedback tool
If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.
- 1. Go to Tability's plan editor
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on "Generate analysis"
Tability's Strategy Map makes it easy to see all your org's OKRsTability 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.
You can then decide to accept the suggestions or dismiss them if you don't agree.
Option 3. Use the free OKR generator
If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.
Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.
Project Risk Management 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
Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your 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
Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.
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.
How to track your Project Risk Management OKRs
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 a proper OKR-tracking tool for it.
If 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 Project Risk Management OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to establish a secure software development lifecycle (SDLC)
- OKRs to implement seamless data integration and collaboration processes
- OKRs to enhance overall company profitability
- OKRs to enhance user proficiency in self-servicing data catalog queries
- OKRs to enhance a culture of accountability and productive feedback
- OKRs to boost review count on G2 and Capterra platforms