Challenge your PMO to think about how they can provide information into teams, to drive effective decision making within projects. If your projects only deliver at the end of a period (or beyond), then you risk numbers staying flat. The framework has a history of success in several top-tier … Ambitious goals are one thing, but there is no point in shooting for the moon if your organization’s mission is to shoot for the planet Venus. Japan seems to be an odd choice of location to start my OKR story. The PMO Lab is all about getting deeper into the … Well-known OKR users are Google and Twitter, but even the artist Bono uses it for his philanthropic focus. 1. OKR is a goal-setting framework that is used by many large tech companies, including Google, Spotify, and Twitter. Read about OKR examples for project management below. That is why one should set mid to short term goals (aka OKRs) & then try to achieve them via day to day structured steps (aka project-tasks). 2. What’s the difference between OKRs vs KPIs? OKRs … The mappings don’t have to be precise. Rather than starting with projects, we begin with the OKRs. The Key Results need to be stretching and inspiring. The process of agreeing the OKRs could warrant an article in its own right. OKRs for project manager, offer many benefits. Challenge your teams to adopt more incremental delivery approaches that see small packets of value being delivered frequently. Risk management features heavily, yet opportunity management seldom gets a mention. They are used to create alignment in an organization and to encourage people to set stretch goals. But when it comes to setting OKRs, project managers … In this article, we address this potential source of confusion and how OKR methodology can be integrated with project management. The portfolio outcomes were derived from the benefits we expected to see from the projects. Data must flow two-ways. In the above examples, you would notice that OKRs are defining the end results – the WHYs and the project-tasks are identifying HOWs. The first replied, ‘I am making a living.’ The second said, ‘I am doing the best job of stonecutting in the entire country.’ The third said, ‘I am building a cathedral.’ In this parable, it is entirely possible that the second stonecutter may achieve his Objective. There are passionate debates and pitches as people debate what matters – not how we layer projects, but what direction we should be heading in. Here is how a couple of projects may look like for them, Project 1: Increase efforts on content marketing. Let us look at few more examples to understand this difference. Encourage thin-slice delivery approaches. “OKRs” stands for Objectives and Key Results. What does OKR stand for? Project Managers are not taught this. They achieved their goal five years early. These include increased focus and productivity as well as better transparency and alignment with your team. Usually OKRs … It would be a key result & not task if it said ‘Receive at least 4 inbound follow links from 3 relevant publications > 10000 visitors/month’. He observed that output is greater when everyone strives for achievements beyond their immediate grasp – even though trying means failure half of the time. The third stonecutter, however, is aligned with the vision of the organization. It then becomes the job of the managers (Department Heads, Directors etc..) to commission projects/programmes that will enable them to better meet the objectives within their area of responsibility. The Objectives are designed to be inspirational and challenging. But teams who consistently hit their moon-shots are probably not stretching themselves far enough. If you are interested, you can find a few moreÂ, OKR methodology (Objectives and Key Results), Created with ♥️ by Amoeboids Technologies Pvt Ltd, Agile Performance Management add-on for Jira, Blog | OKR, Agile Performance Management & Employee Engagement, Perfy – AI Powered Robot to enhance employee productivity, Write guest blogs on relevant leading publications, Receive at least 4 inbound follow links from 3 relevant publications > 10000 visitors/month, KR is measurable & talks about the end result. As someone with a projects background, my approach to portfolio management mirrored my approach for projects. As for the strategic OKRs… OKRs Methodology We’ll deliver a certain OBJECTIVE as measured by the following KEY RESULTS: Objectives should be: Long term. i.e This is our strategy for the year and so these are our 4-5 portfolio OKR’s which support that strategy. Applying the OKR framework to portfolios increases joint accountability, alignment, and focus. Therefore, defining OKRs … As someone who has delivered projects and managed portfolios, these achievements sounded incredible. The acronym OKR stands for ‘ Objectives and Key Results.’ It is a goal-setting framework that has been around since the 1970s. OKRs Description. Based on the results presented, the OKRs for the following quarter are again agreed, adjusted, or prioritized. When Google was a start-up, they used the OKR framework to define where they were going, to align the team, and to set themselves ambitious targets. But rather than sitting back and celebrating their success, they doubled the 2020 goal to 40 million. With an OKR approach, I have found it becomes easier to swap projects out and kill those that have passed their useful shelf-life. Above all, we stop people thinking about how to achieve our audacious objectives, and we focus them on delivering on competing project plans. Managers in your team now are not micro managing but helping individuals see the bigger picture. It started me on a journey through Abenomics, Building Cathedrals, and Silicon Valley start-ups. OKRs & Project management are complementary to each other. In this article, we explain what they are, how they are used, and provide you an OKR … The article itself was a piece from The Times’ correspondent Richard Lloyd Parry, based in Tokyo. Who doesn’t want to do their job more effectively? It consists of an Objective statement (where we want to go), supported by Key Results (quantitative statements that determine whether our Objective has been achieved). Mention PMO measures and metrics and most PMO professionals ears will prick up; we all like to know how … A Project Management Office (PMO) ensures that the rules for the modus … Many organizations use Key Performance Indicators (KPIs) to measure performance and milestones toward their goals. Task of writing guest blogs may not be the only way to achieve this end result, Enrich on-site content with specific keywords, Appear on the first page of Google, Bing & Yahoo search for these keywords, The task is clearly laying out the minutiae steps for achieving the KR, Grow number of followers on all social channels, Increase social media engagement by 4% – engagement is defined as followers, shares/retweets, likes, KR here is precise in terms of the value it tries to measure, whereas task is just one of the steps to achieve the KR, Create videos to display insights about product and its features, Increase marketing website engagement from 45% to 55%, Creating videos is one of many ways the key result can be achieved, Increase influx of MQLs from 2300/month to 3000/month, KR is actually the bigger picture to which the task is just contributing, 10% of companies using JIRA use UpRaise before end of this year, Rated amongst top 5 most useful software on the Atlassian marketplace, 7500 active installations by Q4 FY 2017-18, Write blogs on relevant leading publications, Create 2 infographics around each product feature, Publish and promote customer success stories. When you adopt OKRs… Andy Grove, former chairman and CEO of Intel, … In order to achieve the KR – 10% of companies using JIRA use UpRaise before end of this year, the project – set up the sales process must be executed. Shouldn’t change month to month. OKR stands for Objectives & Key Results and is a simple framework for setting better goals. He could spend decades doing the best stonecutting in the country, but the job may well require stones to be cut within the week. Moving from 9m to 20m visitors per year meant Japan hit their moon-shot. The portfolio plan was usually constructed as a sum of the projects that were running within it. Measurability is one of the most important factors when it comes to Key Results. As a portfolio manager, you will need to work closely with the leadership team to promote a culture where it is safe to take such risks, and it is okay not to hit moon-shots all the time. It is a system, like agile, that can be described as ‘deceptively easy.’ The concept is simple, but it can take four or five quarters to implement and bed in. It is macro vs micro. Posted by: Lindsay Scott in pmo mob yield 08/05/2019 0. So, for example, if you’ve only improved the user’s average time … Objective: Create a blockbuster goal setting and feedback software. OKR is a fantastic framework for setting goals, and Project Management systems are fantastic tools for getting work done. Andy Grove, former Chairman, and CEO of Intel, certainly thought so when he first coined the term OKR (which is an acronym for Objectives and Key Results). The engineering department is an extremely dynamic department. Up to 3 objectives for … 3. With the portfolio OKRs defined, communication is critical. Switching to an OKR driven portfolio approach takes time. In turn, this helps people understand what needs to be … PMO Lab: OKRs. While the project-tasks can certainly be completed, their completion does not guarantee achievement of the results. But the bit that caught my attention was that the government had set a target of 20 million foreign visitors a year by the time the country hosts the Olympics in 2020. The framework combined two of the most popular goal-setting approaches: … The framework has scaled with them and is still in use today. Project 2: Convert prospects on website to customers. But as you move through the period, your team focuses on turning the dial ever closer to that ‘moon-shot’ of 1.0. 8 more examples of OKRs for businesses We’ve already given 2 examples of OKRs that can be defined by the top management of a company. This will allow everyone to see how their efforts are affecting the portfolio OKRs in real-time. There’s a tendency to do what they do best and write project plans instead of OKRs. If you want to learn more about applying Objectives and Key Results (OKR) in the PMO and Portfolio management space, take a look at our guide to OKRs in our guide to some of the most Important Management Models for PMOs >>, My experience in what drives change within an organization is with the ITIL approach whereby you identify the organizational hierarchy (e.g Board > Function > Department > Team > Individual) and define Objectives, CSFs and KPIs at each level in cascading manner.. i.e The objectives of any entity in the chain exists to support the objective of the entity above them (In this way, you can theoretically draw a line between the personal objectives of any employee in the company all the way up to the overarching strategy). One of the most common confusions from companies adopting OKR methodology is how to differentiate between a task & a key result. ClickUp is the #1 project management tool in the world. Indeed, these milestones were communicated widely. OKR examples for project management can show you how OKRs … And if you are only performing routine tasks without an ultimate goal guiding you, there is nowhere to go. Adoption of PMO metrics and measures which help focus on the right things – using OKRs. For your portfolio team to turn dials, they need to have fast feedback loops so they can see business metrics changing as project teams deliver. We celebrated when we hit them and doubled down with renewed enthusiasm when we missed them. The OKR approach puts business metrics at the heart of our portfolio. But one of the great advantages of using the … When Japan set their next goal, it was even more audacious than the first – driving themselves ever forwards and competing with their own targets to achieve greatness. For today’s customer-centric organizations, it is critical to align metrics … Terms Of Service Privacy Policy Contact Us, Unit 1, Derwent Business Centre, Clarke Street, Derby, England, DE1 2BU, HotPMO.com is a trading name of HotPMO Ltd. Company number 12214149. For project managers, OKRs (Objectives and Key Results) offer many benefits. This can sap energy and belief in the system. It can be very difficult for organisations to successfully execute the projects within the constraints of time, scope and quality and deliver the required result without relying on a scientific approach. Amazon uses “nested cadences”, where quarterly tactical OKRs are nested in long-term strategic OKRs. But an article in the Times back in 2017 about the impact of increased tourism in Japan caught my interest. But it may not be the right goal for the construction company. There are many methodologies in which a project can be carried out & these approaches may vary depending on the industry vertical. The Key Results are designed in such a way that they can be measured on a scale from 0-1. Adobe, Google, and Netflix are all great companies known for their use of OKRs… The portfolio level OKRs help break away from silo-thinking. If you only set OKRs & don’t take necessary steps to achieve them, you are daydreaming. The secret to Google’s astronomical rise was a goal management technique called OKR, an acronym that stands for “Objectives and Key Results.” OKR is used to track progress as teams … Individuals are granted the flexibility to set their own OKRs, too, so that the top-down objectives are balanced with bottom-up objectives, which serve to prevent silo mentality from building up. Once you have a clear understanding of what the end result should be, you can leverage project management to outline a series of steps that determine how to achieve these OKRs. He is also a big fan of objectives and key results (OKRs). Challenge your PMO to think about how they can provide information into teams, to drive effective decision making within projects. And it is an approach that is fraught with difficulty. In large organizations, it is almost impossible for a single team to deliver an OKR without aligning with other groups and other departments. People are reluctant to commit to objectives when there is a risk that they will not achieve them fully. They are a tool used by individuals, teams, and companies for setting goals to maximize alignment and transparency when pursuing ambitious goals. This approach is replicated across many organizations. [This article was first published in the Winter 2019 issue of Project – the official journal of the Association for Project Management (APM). It seems that OKRs may not always work for projects. He tells of three stonecutters who were explaining what they were working on. https://www.peoplehum.com/blog/the-ultimate-guide-to-the-okr-framework-part-1. They are trained to come up with realistic goals, with safety and contingency built-in. Portfolios become more fluid, and pivoting becomes easier – while never losing sight of the overarching objectives and key results. If the value delivered is getting measured at this step, it is a key result. How does this link to Portfolio management? The problem of course is that once company strategy is set (maybe as infrequently as annually) everyone runs off and starts requesting initiatives is Silo’s, and so the PMO has the job of parsing out conflicting or duplicate initiatives and weighting them to come up with the most valuable mix for the company. In other words, there has to be a framework and a defined way of doing things to ensure that there is a structure to the art of project management. Each Objective requires about 3-5 Key Results, which need to be measurable. In big organizations, project management is important. If the outcomes broadly aligned with the business plan, then all was good. We had a portfolio plan! What are typical OKRs for Project Manager? Popularized by John Doerr, one of the most successful venture capitalists, OKR … With an OKR driven portfolio, we expect teams to track progress against KRs, which means data needs to flow in the opposite direction too. OKRs are going to inspire & motivate the team while project-tasks are going to make them understand minutiae involved. OKRs are how you … The framework operates on a simple principle. Using engineering OKRs is a great way to focus and align priorities with the rest of the business when creating a product. Still not satisfied, they went on to set an additional target of 60 million for 2030. It describes WHAT you want to achieve (Objective) and HOW you intend to measure that you have achieved it (Key Result). While his focus may be on stonecutting, he is doing so with an eye to the wider goal of building a cathedral and ensures his work contributes to that Objective. Example 1: ONE Campaign. Referring to the content marketing team from the marketing department – it is their responsibility to increase awareness about the product, attract prospects to the marketing website and increase engagement with the product. These include increased focus and productivity as well as better transparency and alignment with your team. Your email address will not be published. One of the frequent questions that we hear from our evaluators is – how objective-key result relationship is different from project-task, epic-story (or whatever combinations you can think of) relationship. The definition of “OKRs” is “Objectives and Key Results.” It is a collaborative goal-setting tool used by teams and individuals to set challenging, ambitious goals with measurable results. Project management includes everything from identifying requirements, setting clear and precise targets, balancing the competing demands from the different stakeholders as well as ensuring that a commonality of purpose is achieved. But when it comes to setting OKRs, project managers often have a difficult time. It is a journey that Larry Page and Sergey Brin went on when they built Google from nothing to a company with an $843bn market cap. Choosing to set a goal of more than double that must have felt almost impossible to those in the Japan National Tourism Organization (JNTO). For more information on APM, see www.apm.org.uk]. Let us take an example to understand how OKR methodology can lead to projects for different functions. UpRaise, an OKR app is an add-on for JIRA, a project management tool. If you don’t move the dial, you remain on zero. No matter for which position you create your OKRs, mind that there is several rules to do it: Set no more than 3-5 OKRs for each unit Objectives are to be … For example, ‘write blogs on relevant leading publications’ cannot be a key result because just writing of blogs does not measure value. When you are outcome-focused there is a better chance of meeting a customer’s need. This Trello … OKRs are defined at the highest level in the organization and are cascaded down. Rather than focusing on projects that compete with each other, people work together to align around the portfolio OKRs. OKRs can also help you establish a new culture when you discover the failings of your current one. Objectives and Key Results (OKRs) is a management framework initially invented in the 1970s by Intel and Oracle’s leaders. But those nearly impossible goals are often the ones that inspire true greatness. Everyone understands the vision, which is encapsulated by their Objectives and measured by the associated Key Results. Still, teams should be able to explain how their KR of increasing the number of corporate applications running in the cloud by 34% is going to support the overall objectives of the portfolio. John McIntyre is the founder and CEO of project management office (PMO) consultancy HotPMO. Priority calls – when they arise – are made based on which action is most likely to turn the dials the fastest and furthest. The solution: separate strategic OKRs from tactical ones. If your annual bonus is linked to you achieving an objective, where is your incentive to set yourself a goal that is stretching, audacious, and ambitious? More than that, and you simply aren’t focused enough. If so, would this be an alternative or complimentary approach to defining targets for the top level functions which would then cascade down the chain? He was reflecting on the impact tourism was having on the city. When the 20 million goal had first been conceived, Japan had never seen visitor numbers above nine million. And it’s a journey that will help you align your portfolio with your organization’s vision and inspire your project teams to achieve far more than they would dare to think is possible. Project management is the art of managing project and its deliverables with a view to produce finished products or service. Defining the right 3-5 OKRs for the portfolio is vital. One of your significant challenges will be mindset. You won’t always hit your goals – and that’s okay. When they’re combined you have a complete system for … And when the list of projects is locked down, we reduce our ability to seize opportunities when they arise. Peter Drucker summed this up perfectly in his parable of the three stonecutters. 2. One of the frequent questions that we hear from our evaluators is – how objective-key result relationship is different from project-task… Figure 1: OKRs are aligned with the top level of the corporate objectives . You may have a PMO in your organization that is used to gathering information from project teams and sharing this with the business. It is essential to balance these out, so you avoid perverse incentives: increasing sales volumes is easy if there is no corresponding target that ensures those sales are profitable. OKR methodology (Objectives and Key Results) is a popular system for setting goals. OKR is a simple yet effective framework to boost your productivity by increasing transparency and alignment in your team. OKRs are scored on a sliding scale between 0 and 1 that indicates whether you missed, came close to, or hit your target for the key result. OKRs are outcome-focused, not output focused. Required fields are marked *. Find everything you need to know about Objectives & Key Results in the ultimate guide to the OKR framework. Teams are encouraged to set their own OKRs, which align with the portfolio Objectives. Scrum, Kanban, Waterfall are some of the examples. Lockdown the scope, lock down the plan, manage risk. A PMO can help create alignment throughout organizations so that everyone understands the company’s strategy, long-term goals and top priorities. Year on year … We had the first PMO Lab at the April PMO Flashmob held at Parliament UK. Maybe they have been penalized for this in the past. This conservative approach features in personnel management too. If not, we would make changes, swapping projects out, and adding initiatives in – balancing capacity with requirement until we felt that we had it right. UpRaise, an OKR app is an add-on for JIRA, a project management tool. https://www.peoplehum.com/blog/the-ultimate-guide-to-the-okr-framework-part-1, Your email address will not be published. Make Productivity Improvements. So, to help you on your OKR journey, I’d like to leave you with three pieces of advice that will serve you well when planning to incorporate OKRs into your portfolio management strategy. Once the plan was agreed, we could track progress against key milestones. Once the content marketing helps to increase engagement on the website, the sales team can take over to convert these prospects to customers. This relationship of OKR methodology and project management lets your team collaboratively discover new ways to achieve the end goals. if it is an end in itself, it is a key result. Taking your example above “Enrich on-site content with specific keywords” could be a stand alone project By the time the impact is measured the project has been completed and the PM assigned to another task (or if a consultant, moves on). Projects become the ‘temporary endeavors’ that they were always supposed to be, instead of the cornerstones of our portfolios that they so often end up becoming. With OKRs drafted, teams go through an exercise of horizontal and vertical alignment. When focus on milestones intensifies, we take our eye off the dials we are aiming to turn. Encourage thin-slice delivery approaches. A rule of thumb is –. I’ve never visited. With these projects, we move a step further to achieve one of the Key Results viz 7500 active installations by Q4 FY 2017-18. They focus on specific time-bound objectives rather than putting out fires. Similar to agile methods in Project Management, OKRs as a control instrument support the adaptation of short-term goals to current needs and ensure usable results in shorter intervals. OKRs can be applied to all departments of an organization, with the engineering team being no exception. The OKR framework sets out to do something about that. Save my name, email, and website in this browser for the next time I comment. When you adopt OKRs, you should be able to see the numbers against your KRs steadily rising throughout the cycle. Used by 100,000+ teams in companies from startups to giants like Airbnb, Google, Netflix and Nike, ClickUp is the only tool you need to implement … With OKRs, we know that hitting our 1.0 targets on every KR may be almost impossible, but we know that striving for our audacious objectives will drive us further forwards than conservative and safe goals ever will. Do i interpret correctly from the above, that establishing the OKR’s for the portfolio, would be a Board level exercise? Becomes easier to swap projects out and kill those that have passed their useful shelf-life framework that has around. Are defined at the end of a period ( or beyond ), then risk! Help create alignment throughout organizations so that everyone understands the vision of the most common confusions from adopting. 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