OKRs is a proven goal-setting framework for creating alignment and focus in the organization. OKRs are ideal for the hybrid organization because they can be used to communicate a strategy in a way that aligns the organization and in turn drives a better business outcome.
40% of people look for jobs with a sense of purpose and meaning. Yet 72 % of executives can’t even name their company's top 3 goals.
OKRs is a framework to create, not just more strategy, but a strategy that brings meaning to the organization as well as being executable.
In short, OKRs consist of 1-3 Objectives, from which Key Results are defined. Key results can then have initiatives attached that help achieve the key results.
To set an OKR follow this formula:
We will Objective as measured by Key Results via Initiatives and Projects
For example
We will achieve amazing revenue growth by closing 1 mio. in new deals via training our sales staff and launching a new marketing campaign.
For a more thorough introduction to OKRs read about OKRs for the hybrid organization here.
To manage OKRs it makes sense to have somewhere to keep them and register data and information on the key results.
Viva Goals is Microsoft’s solution for goal setting and management software that uses OKRs. It’s a quick-start platform where you can:
– Create, manage, and customize OKR workflows
– Built-in templates tailored to different business types
– Connect work to outcomes with integrations to tasks and projects
– Integrate into critical tools and data sources
– Configure OKRs with customizable weights and scoring guidance
Your success with OKRs and Viva Goals is dependent on how ready you and your organization are for the implementation, roll-out, and scaling of OKRs.
That’s what makes Viva goals ideal for getting started with OKRs. It’s a great place to get started quickly. In Viva Goals, you can enter objectives and define key results without having predefined projects or data. It’s a great standalone tool to get you up and running, fast, allowing you to manually collate and type in data as you go.
To create your objectives click add new objective.
Then it’s possible for you to enter the name of the objective as well as determine whether it is on an individual or an organizational level. This is also where you can assign an owner and define the time period the objective will function in.
Once you have your objectives it’s time to define your key initiatives for each objective. Locate your objective and choose “Add key result”.
This is also where you can add any projects that may result as part of the objective.
Your key result is measurable, and Viva Goals keeps track of the progress. The progress can either be entered manually or automatically from a data source.
Update and track progress regularly to ensure projects and initiatives are contributing to achieving key results.
Viva goals is a great place to get started, in creating goals. However, if you are looking to have full integration between your portfolios, strategic goals, and company data then Power PPM also has a OKR feature that allows you to take your OKR journey even further by combining it with your existing project data and tools.
