2 Vendor Evaluation Team OKR examples with initiatives

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Tability is a cheatcode for goal-driven teams. Set perfect OKRs with AI, stay focused on the work that matters.

What are Vendor Evaluation 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.

Crafting effective OKRs can be challenging, particularly for beginners. Emphasizing outcomes rather than projects should be the core of your planning.

We have a collection of OKRs examples for Vendor Evaluation Team to give you some inspiration. You can use any of the templates below as a starting point for your OKRs.

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

The best tools for writing perfect Vendor Evaluation 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.

Vendor Evaluation Team OKRs examples

You will find in the next section many different Vendor Evaluation 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 develop a robust vendor management framework

ObjectiveDevelop a robust vendor management framework
KRTrain 75% of procurement team in using the new vendor management system
Schedule vendor management system training sessions
Identify which team members require training
Evaluate training effectiveness post-completion
KRIdentify and categorize 100% of existing vendors by end of quarter
Develop categorization criteria based on vendor parameters
Compile a comprehensive list of all existing vendors
Sort each vendor into the corresponding categories
KRImplement vendor evaluation criteria for 60% of categorized vendors
Develop evaluation criteria based on industry standards
Apply evaluation criteria and analyze results
Identify top categories for 60% of our vendors

Use template

OKRs to implement up-to-date IT systems

ObjectiveImplement up-to-date IT systems
KRTrain all IT staff on new systems, achieving 90% proficiency rating
Schedule regular training sessions for IT staff
Conduct proficiency assessments post-training
Identify necessary training programs for new systems
KRIdentify and acquire latest IT systems by assessing 5 different vendors
Identify five vendors offering the latest IT systems
Evaluate each vendor based on system capabilities and support
Finalize and acquire the most suitable IT system
KRLaunch and integrate new IT systems with 0% downtime
Streamline integration tasks to minimize potential interruptions
Implement a phased rollout approach for new systems deployment
Set up a parallel operational environment for new systems testing

it-systems training it-staff it-vendors it-department vendor-evaluation-team

Use template

Vendor Evaluation 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

The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. 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 Vendor Evaluation Team OKR templates

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

2 OKR examples for Vendor Evaluation Team