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Objective cycles are containers for team & individual all levels of OKRs. At the time of installation, Employee Success UpRaise creates quarterly 4 objective cycles. These are visible to your Employee Success UpRaise admin/super admin under OKR settings section. 

Start & end dates of the objective cycle, along with the additional settings dictate the behavior of dictate the behavior of objectives which belong to the corresponding objective cycle.

One can add any level of objectives in existing objective cycles. In case, if you have a certain objective with longer durations you can create a separate objective cycle for such objectives. This typically happens with company objectives, example - some company objectives are usually defined over a longer period of time as compared to the to the team & individual objectives. In such cases, you can create separate objective cycles with longer durations and add relevant objectives to these objectives.   

For non-admin users of Employee SuccessUpRaise, objective cycles come in picture when users try to create/edit team or individual objectives. 

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pageObjectives & Key Results - User Guide