10 Great PMO OKR Examples (2023)

FAQs

What are good OKR examples? ›

Provide centralized control, coordination, and reporting of scope, change, cost, risk, and quality across all projects. Increase collaboration across projects. Provide increased Client Satisfaction with project-related work through increased communications, collaboration, training, and awareness.

Remember, good Key Results have several basic characteristics: They are specific and time-bound. They are aggressive, yet realistic. They are measurable and verifiable.

Project Management KPIs

Top project management benchmarking measures include return on investment (ROI), productivity, cost performance, cycle time, customer satisfaction, schedule performance, employee satisfaction and alignment with strategic business goals.

KPIs, or key performance indicators, use data to measure the factors that make a project successful. They help pinpoint how work is progressing and show areas of weakness in your process. They're a great way to uncover areas that could lead to failure and to make corrections before it's too late.

“SMART” is an acronym for five characteristics your goals should have in order to be effective: Specific, Measurable, Attainable, Relevant, and Time-Bound. Keep this in mind when defining your goals, and you'll be set up for success.

3 Types of Goals in Project Management

These goals measure efficacy, productivity, and success. The third is project-level project management performance goals that apply your high-level goals to a single project.

What are the 3 types of PMO? ›

Different types of PMO

In order of least support to most support, the three general types of PMO are Supportive, Controlling and Directive.

For how to write OKRs, the actual formula is simple: Objectives are goals and intents, while Key Results are time-bound and measurable milestones under these goals and intents.

An OKR framework consists of three key things: (1) Objectives, (2) Key Results, and (3) Initiatives. An objective describes the main goal that a company hopes to achieve in the long run, while key results are the expected outcomes. Initiatives define the work that needs to be done to achieve the key results.

OKRs provide your business with five important elements: focus, accountability, engagement, transparency and visibility.

The process of S.M.A.R.T.E.R goal-setting follows the acronym, which stands for Specific, Measurable, Achievable, Relevant, Time-Bound, Evaluate, and Reward.

While the answer is the same across the board, there may be some nuances depending on an organization's size. Simplicity is always key. To capture the ambitions of your organization, you should have a maximum of three Objectives, each with 3-5 Key Results.

A Key Result is a measurable outcome required to achieve the Objective. It contains a metric with a start and target value. Key Results measure progress towards the Objective — like a signpost that shows how close you are to your Objective.

KPIs show overall progress and manifest goals in a more visible light. They give a clear picture of how far a PMO has advanced since their last evaluation. Easily visualized through KPIs, any PMO will be able to tell if their performance is growing or declining.

What are the five most critical project metrics? ›

The five most critical metrics can be understood as: Project Margin, Planned and Actual Utilization Rates, Billable Performance to Target, Total Availability by Month, and finally, Supply vs. Demand.

One of the most basic measures of how well a PMO is functioning is the percentage of projects that are completed as a ratio of all the projects in a portfolio. More illustrative is how many of the projects are completed within the timeframes budgeted for the projects.

“For example, if your goal is to increase sales by 20 percent, you would measure this by tracking sales figures over time. If your objective is to make 100 sales calls this week, you would measure this by tracking the number of sales calls made.”

We typically recommend setting a maximum of 3-5 OKRs per team per quarter. This is a maximum, not a minimum – it's perfectly appropriate to have only 1-2 OKRs.

Good PMOs need the right balance of skills and experience. You want both seasoned professionals, plus people with the right enthusiasm and attitudes who can develop and grow into the roles. The PMO needs to update itself constantly. Without keeping up to date with the latest trends, the PMO may risk losing relevance.

A project, regardless of its size, generally involves five distinctive project life cycle phases of equal importance: Initiation, Planning and Design, Construction and Execution, Monitoring and Control, Completion.

Two of the most important requirements while managing a project are to meet deadlines and finish the project on time. In order to manage time, many project managers use task management tools to track the progress of tasks, dependencies, and milestones.

What are the four major objectives of project management? ›

Development and Implementation of procedures. Efficient communication, collaboration, and productive guidelines. Achieve project goals within the estimated time with high quality. Allocate and optimize necessary resources to meet project goals.

The Project Management Office Checklist provides the capability to determine if the Information Technology (IT) Program Management Office (PMO) has provided the functions and tools to achieve a successful environment in support of both executive management and the project managers responsible for individual IT projects ...

A strategic (enterprise) PMO (sometimes called the office of strategy management) plays a role in linking the organization's projects to its strategic plans. The company has an organizational structure (strategic project office, office of strategy management, strategic steering committee, etc.)

A PMO Governance Framework enables the PMO leaders to establish the common guidelines and manage the distribution of authority given to project managers.

Since teams typically set OKRs every quarter, 12 Key Results more or less means your team has only 1 week to deliver a Key Result. Any more than 12 and you risk losing focus. We have seen that 12 is the maximum a team is able to achieve consistently.

For example, 'Make a lot of Money' can't be objective, whereas 'Increase Profit by 20%” is an effective objective as long as it is time bound. How are you going to achieve the Objective? The answer is – the key results. Key Results are the tasks that you complete to achieve the larger objectives.

OKRs usually contain three to five high-level objectives, with another three to five key measurable results for each objective. Even at the biggest organizations, it's never advised to have more than five OKRs at one time. For smaller teams and organizations, you'll want to keep it to three.

Simply put, objectives and key results (OKR) is a framework for goal-setting used to define and track goals more efficiently. Used for mapping high-end company goals, the main benefits of OKRs are: Bringing focus by setting up straightforward, strong, and inspirational goals.

KPIs can be great for measurement, but they're standalone metrics — they may tell you when a measure is good or bad, but they don't necessarily communicate context or what direction your team needs to go in. OKRs, which stands for Objectives and Key Results, provide that much needed direction and context.

What are the 5 measurable criteria? ›

SMART refers to a specific criteria for setting goals and project objectives. SMART stands for Specific, Measurable, Attainable, Relevant, and Time-bound. The idea is that every project goal must adhere to the SMART criteria to be effective.

Which three questions should you ask yourself to make a goal specific? Where should it be delivered? What do I want to accomplish? Who is involved?

For how to write OKRs, the actual formula is simple: Objectives are goals and intents, while Key Results are time-bound and measurable milestones under these goals and intents.

Objectives, Key Results and Initiatives

OKRs have three important parts: the Objective, or goal you set, the Key Results which measure your progress, and the Initiatives which describe what you'll do to get there. This all aligns to the wider strategy or vision, usually from the top down.

For example, if your objective is “Increase sales volume”, then key result examples might be: 50% lift in new lead generation. 20% more sales revenue this quarter. 10 new deals closed above $100k.

Summary. “OKR” stands for Objectives and Key Results. OKRs are an effective goal-setting and leadership tool for communicating what you want to accomplish and what milestones you'll need to meet in order to accomplish it. OKRs are used by some of the world's leading organizations to set and enact their strategies.

OKRs (Objectives and Key Results) are a framework that helps strategically align people within an organization. OKRs translate long-term strategic goals into focused objectives and measurable key results so that strategy can be executed on the company, department, and operational levels of your organization.

Outcome KPIs—sometimes known as lagging indicators—measure the output of past activity. They are often financial in nature, but not always. Examples include revenues, margins, return on equity, customer satisfaction, and employee retention.

A Key Result is a measurable outcome required to achieve the Objective. It contains a metric with a start and target value. Key Results measure progress towards the Objective — like a signpost that shows how close you are to your Objective.

What are goals Key Result areas? ›

What Are Key Result Areas? The term Key Result Areas (KRAs) refers to a short list of overall goals that guide how an individual does their job, or general achievement and progress goals for an organization or one of its divisions.