Concepts - Objectives, Key Results, Punch-ins, Alignment, Weightage, Grading, Labels, Objective cycles
OKRs
OKRs (Objectives and Key Results), is a goal-setting framework. It is specifically geared towards bringing objectivity to the goal assessment process. At a broad level objectives set the direction, while Key Results provide quantifiable ways to track progress. This method helps teams and organizations focus, align, and measure their efforts towards achieving shared goals.
Read more here - https://upraise.io/objectives-key-results-okr/what-are-okrs/
Objectives
An objective is a specific goal that defines what needs to be achieved. It provides a clear direction and purpose for efforts and serves as a benchmark for evaluating progress and success. In various contexts, objectives can be set for individuals, teams, projects, or organizations, and they are typically designed to guide actions toward a desired outcome.
Key Results
Key Results (KRs) bring the SMARTs to OKRs. Key results is how you measure success or failure of an objective. KRs provide a clear and unambiguous way to track progress and determine if an objective has been met. Key Results help in assessing and measuring the success or effectiveness of efforts directed towards a particular goal. They are typically numerical or data-driven, providing a tangible way to evaluate performance and outcomes.
Punch-ins
In UpRaise, punch-in is an action through which progress of an objective or a key result is updated. When there are no key results & contributing objectives for an objective, it can be punched-in indirectly. Whereas if there are key results and/or contributing objectives the objective's progress is linked with their progress & cannot be independently updated (unless all links carry 0 weight).
Alignment
Alignment links different objectives with each other. This linking creates a hierarchy. Based on the weight of these alignments, whether one objective progress has an impact on the other is determined.
Usual alignment flows from top-bottom or bottom-up linking Company, Department, Sub-Department, Team, Individual objectives with one another.
Weightage
Weightage is a number associated with a link (either key result/objective or an objective/objective). It determines the magnitude of impact the association is going to have on the progress of objective that is at a higher level.
For example, if Objective B is contributing to Objective A and weightage of this alignment is 0 - in that case the progress on Objective B wouldn't impact progress of Objective A in any way.
Grading
On reaching due date, OKRs become eligible to be graded. Grading gives you the ability to rate efforts on a specific objective/key result. This grading is meant to be a result of ‘reflection’ on the performance of relevant stakeholders.
Labels
UpRaise allows associating multiple labels against each of the objectives. The purpose of objective labels is to classify objectives into multiple different categories. This lets teams analyze progress and overall effort based on various categories.
For example, stretch & operational labels can help companies categorize objectives according to their nature. Note that one objective can be associated with one or more labels.
Objective cycles
Objective cycles refer to the predetermined time frames within which objectives are set, pursued, and graded. These cycles provide a structured approach for goal-setting and performance assessment. In organizations, objective cycles can range from quarterly to annually, depending on the company's preferences and industry demands. They allow for regular reflection, adjustment, and alignment of goals to ensure continuous progress and adaptability to changing circumstances.
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