OKR stands for Objectives and Key Results
. It's a goal management framework that helps companies achieve their strategic goals. OKR history
dates back to the 1970s when Andy Grove took the idea of MBO from Peter Drucker and upgraded it with the concept of Key Results. OKR formula is:
"I will __ (Objective), as measured by __ (Key Results)."
The Objective is short, clear, aspirational goal, achievable within a given cycle
. The Objective should motivate, provide direction, and challenge the team. No jargon and usually no numbers.
Key Results are metrics that measure progress towards achieving your Objective. Each Objective should have 2 to 5 Key Results.
OKRs should cascade, from the company level to teams and (sometimes) to individuals
. OKRs are designed to align the team and focus on what matters. An example of the OKR
: Increase user engagement Key Results
- Increase 1-month retention from 20% to 40%
- Increase average time in the app from 15 mins to 30 mins
- Increase the number of sessions from 5 to 10 sessions per user per day
Check out more examples for Product