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Task Prioritization Framework

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→ Might be interesting in the future / Idea collection E.g. “Switch to a different bank.”

→ Tasks with mediocre leverage & urgency E.g. “Clean up browser tabs.”

→ High Leverage & Not Urgent: Tasks with a high impact on the company without a strong time constraint. Failure to complete the task would result in a high (opportunity) cost for the company. E.g. “Launch new product XYZ.”

→ High Leverage & Urgent: Tasks that should be done right away. Failure to do so would result in a high (opportunity) cost for the company. E.g. “Take care of a costumer complaint with a 1 star rating on Amazon.”

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OKR Guidelines

OKR Framework

Weekly Updates on Saturdays

Monthly Check-Ins in the M-C-M

Quarterly Closure in the M-C-M

Updating of the OKR Parameters

Reflection, Adjustment of OKRs

Reflection ,new Set of OKRs, Adjust Yearly / Long Term OKRs

OKR Setting Guidelines

3 - 5 Objectives per Department / Person

3 - 5 KRs per Objective

Objectives and KRs should have a deadline

Aspirational OKRs and their associated priorities should remain on a team’s OKR list until they are completed, carrying them forward from quarter to quarter as necessary. → They can also be moved to another team if it is more likely to be achieved there

Identify cross departmental dependencies early and make sure related KRs exist within these teams

every major activity (or significant fraction of their efforts) of a team / individual should relate to an OKR

An OKR can be modified or even scrapped at any point in its cycle. Sometimes the “right” key results surface weeks or months after a goal is put into play

To emphasize a departmental objective and enlist lateral support, elevate it to a company OKR

Feedback is welcome across departmental lines and hierarchies

Objectives

Objectives are significant, concrete, action oriented and (ideally) inspirational

The goal is to set highly ambitious goals and it is okay not to reach all of them → If an objective is not achieved in time we can analyze what we could do (/have done) differently.

Goal is to have 50% of the individual Objectives set by contributors themselves

“Hard goals” drive performance more effectively than easy goals. Specific hard goals “produce a higher level of output” than vaguely worded ones.

A team’s committed OKRs should credibly consume most but not all of their available resources. Their committed + aspirational OKRs should credibly consume somewhat more than their available resources

The successful achievement of an objective must provide clear value for the company

We can fail without judgement. It is okay to not achieve an OKR. Learn from the experience and move on

KRs

KRs are set by contributors themselves with the help of management

Effective KRs are specific and time-bound, aggressive yet realistic. Most of all, they are measurable and verifiable. It’s not a key result unless it has a number

If all of the objectives KRs are reached, the objective has to be reached as well

The more ambitious the OKR, the greater the risk of overlooking vital criterion. To safeguard quality while pushing quantitative deliverables, one solution is to pair key results to measure both effect and counter-effect.

When a KR requires extra attention, elevate it into an objective for one or more cycles.

Identify cross departmental dependencies early and make sure related KRs exist within these teams

every major activity (or significant fraction of their efforts) of a team / individual should relate to an OKR

An OKR can be modified or even scrapped at any point in its cycle. Sometimes the “right” key results surface weeks or months after a goal is put into play

To emphasize a departmental objective and enlist lateral support, elevate it to a company OKR

Feedback is welcome across departmental lines and hierarchies

Tips for Check-Ins

If it looks like it is unlikely an Objective can be met in time the matter has to be escalated in order to find a solution

Tips for Reflection

In evaluating OKR performance, objective data is enhanced by goal setter’s thoughtful, subjective judgment. For any given goal in a given quarter, there may be extenuating circumstances.

Here are some reflections for closing out an OKR cycle:

Did I accomplish all of my objectives? If so, what contributed to my success?

If not, what obstacles did I encounter?

If I were to rewrite a goal achieved in full, what would I change?

What have I learned that might alter my approach to the next cycle’s OKRs?

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