OKRs have two important parts: The objective you want to achieve and the key results, which are the way you measure achieving the objective.
To create great and efficient OKRs, you need to follow one simple formula:
“We will [Objective] as measured by [Key Results]”.
Your objectives should be clear, actionable, and time-bound. The common time period to achieve them is a quarter, but depending on the objective you can set a longer or shorter period. Key results are the ones that determine whether an Objective has been achieved or not, not necessarily relying on your usual metrics. They are quantifiable, time-bound, and measurable results, making it easier for the team to track progress. Contributors on the KRs should measure progress regularly since okrs must be evaluated continuously, and then at the end of the OKR period that’s been set, there’s usually an OKR meeting to determine how well the team did, to assess and discuss if there should be a change in the strategy to ultimately achieve project effectiveness.