Objective and Key Results (or OKRs) is a well-known framework that is used by technology/product-first organizations. It was initially implemented as a top-down approach from a strategy document approved by the board. The CEO would then approve of the objectives before they were communicated further with teams and department heads to work on.
Today, we find that every individual in a company, be it the CEO, VPs, Directors, Managers or ICs benefit from having OKRs of their own. What are their objectives and what are they going to achieve them in a set period of time forms the basis of individual performance reviews.
Writing OKRs is fairly easy. You can find plenty of videos and articles on how to write OKRs.
In my 16 years of planning and executing strategies, I have found a lot of gaps that are overlooked while defining OKRs that creep up later down the road when it’s too late.
Here are a few missing elements:
- Timelines are left for later and the sequencing of projects/tasks is unknown or blurry
- Path to success is not broken down into milestones / check-points
- Unclear who the stakeholders are
- No mechanism to provide visibility into the progress
- Biting more than one can chew
The solution: OKRs with an execution plan.
The execution plan is the missing half of the OKR plan that makes it more than just a document of what you want to achieve. It becomes a document of how we are going to achieve it.
Below are my OKR & Execution Plan templates that I have been using for many years and this has helped me hit 90%+ on OKRs metrics every single time.
I have left comments and tips in different areas for you to get a better understanding of how things are connected with real examples. Feel free to make it your own.
OKR Template
Execution Plan Template
If you are a CEO, COO, VP, Head, Director or Manager and need help with implementing and planning your OKRs, schedule 30 mins with me for free and I will walk you through my process in even more detail and answer your questions. Go get it done!