How can you use OKRs to improve your PM program?

1 Setting OKRs

The first step to use OKRs to improve your PM program is to set clear and meaningful objectives and key results for each employee, team, and the organization as a whole. Objectives are the desired outcomes or impacts that you want to achieve, while key results are the specific and quantifiable indicators that measure your progress and success. For example, an objective could be "Increase customer satisfaction", and a key result could be "Achieve a Net Promoter Score of 8 or higher by the end of Q2".

To set OKRs, you should involve both managers and employees in a collaborative and iterative process, where they can align their goals with the company vision and strategy, and also reflect on their strengths, interests, and development needs. You should also ensure that the OKRs are SMART (specific, measurable, achievable, relevant, and time-bound), and that they are challenging but realistic, motivating but not overwhelming. A good rule of thumb is to have no more than three to five objectives and key results per level, and to align them vertically (across different levels) and horizontally (across different teams or functions).

3 Reviewing OKRs

The third step to use OKRs to improve your PM program is to review the outcomes and impacts of the OKRs at the end of each cycle, usually quarterly or annually. Reviewing OKRs helps you assess how well you achieved your objectives, what worked and what didn't, and what you learned and improved. Reviewing OKRs also helps you celebrate your successes and failures, and appreciate your efforts and growth.

To review OKRs, you should conduct a formal and structured evaluation process that involves both self-assessment and manager feedback, as well as peer or customer feedback if applicable. You should also use a clear and fair grading system that reflects the degree of achievement and difficulty of the key results, such as a score from 0 to 10, or a rating from poor to excellent. You should also document the results and learnings of the OKRs, and share them with the relevant stakeholders, such as your team, your department, or your organization.

4 Learning from OKRs

The fourth and final step to use OKRs to improve your PM program is to learn from them and use the insights to set new or revised OKRs for the next cycle. Learning from OKRs can help you identify the strengths and weaknesses of your PM program, the opportunities and challenges for performance and development, and the best practices and lessons for future goals. It can also create a culture of continuous improvement and innovation, where you strive for higher levels of excellence and impact. To learn from OKRs, ask yourself and your employees reflective questions such as what were the most important outcomes, effective strategies, unexpected obstacles, useful feedback, relevant skills, enjoyable rewards, challenging frustrations, surprising insights, and actionable recommendations. Based on the answers to these questions, you should then set new or revised OKRs that address the gaps and opportunities identified while aligning with your current and future priorities.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?