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tability.ioWhat are Regulatory Approval OKRs?
The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.
Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.
We've tailored a list of OKRs examples for Regulatory Approval 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.
Regulatory Approval OKRs examples
You'll find below a list of Objectives and Key Results templates for Regulatory Approval. 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 develop innovative pharmaceutical products
ObjectiveDevelop innovative pharmaceutical products
KRDevelop and test 2 prototypes with satisfactory patient outcomes
Conduct patient outcome tests on prototypes- Identify key components for prototype based on patient needs
- Build and refine two prototype designs
- KRConduct research to identify 3 potential active pharmaceutical ingredients
- Identify key drugs suitable for pharmaceutical component research
- Conduct thorough research on potential active ingredients
- Document findings for each potential ingredient
- KRSecure regulatory approval for 1 new pharmaceutical product
- Respond promptly to regulatory feedback and additional information requests
- Conduct rigorous clinical trials for safety and efficacy
- Develop and submit detailed dossier to regulatory authority
OKRs to launch a successful new insurance product
- ObjectiveLaunch a successful new insurance product
- KRObtain requisite regulatory approvals for the new insurance product
- Follow up on approval status regularly till obtained
- Identify necessary approvals for the insurance product from regulatory bodies
- Submit applications to appropriate regulatory agencies
- KRDevelop a detailed insurance product prototype by involving 15 potential customers
- Identify 15 potential customers for feedback sessions
- Sketch a draft of the insurance product prototype
- Organize feedback/improvement sessions with customers
- KRAchieve 5,000 sign-ups for the new insurance product post-launch
- Partner with relevant industry influencers for promotion
- Develop a strategic digital marketing campaign targeting potential sign-ups
- Offer special discounts or bonuses for early sign-ups
OKRs to secure FDA approval for the capital equipment medical device
- ObjectiveSecure FDA approval for the capital equipment medical device
- KRComplete and submit comprehensive FDA application by week 4
- Thoroughly fill out the FDA application form accurately and comprehensively
- Gather all necessary documentation and information for FDA application
- Submit the completed FDA application before the deadline in week 4
- KRObtain confirmation of FDA approval by end of the quarter
- Regularly follow-up with FDA regarding application status
- Prepare and submit all necessary documentation for FDA approval
- Ensure all response deadlines to FDA inquiries are met
- KRPass all necessary FDA inspections successfully with zero citations
- Implement strict internal quality control measures
- Regularly inspect and document all processes for compliance
- Review and comprehend all FDA guidelines and expectations
OKRs to secure FDA approval for our new pharmaceutical product
- ObjectiveSecure FDA approval for our new pharmaceutical product
- KRResolve all FDA queries or issues regarding the application within six weeks
- Research and compile thorough responses to each issue
- Submit all responses and corrections to FDA within six weeks
- Identify all FDA queries or issues on the application
- KRSubmit a complete and compliant application to FDA within the first month
- Review FDA guidelines to ensure application compliance
- Submit the completed application to the FDA
- Gather all necessary documents and data for application
- KRSuccessfully pass the FDA's inspection and audit of our production facilities
- Ensure all documentation and records are accurate, updated, and easily accessible
- Provide thorough training to staff on FDA regulations and requirements
- Maintain the facility's cleanliness and safety according to FDA standards
How to write your own Regulatory Approval 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.
Regulatory Approval 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 Regulatory Approval OKRs
Your quarterly OKRs should be tracked weekly in order to get all the benefits of the OKRs 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 Regulatory Approval OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to implement successful project tracking and KPI definition system
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- OKRs to establish a proficient social media volunteer team
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- OKRs to successfully redesign and enhance the website's user experience