- Objectives answer the question – where do you want to go? what do we want to achieve?
- Ambitious, qualitative, exciting, directional and actionable by the team or individual.
- Objectives can be Committed or Aspirational and start with action verbs.
- Objectives can be set for a year and then for every quarter.
- There are no more than 3 to 5 Objectives for a year or a quarter.
- Objectives could revolve around core factors like Customer, Performance, Revenue, Engagement or Growth.
- Key results answer the question – how will we measure our success? how do we know we are getting there?
- Key Results are quantitative, measurable and difficult but not impossible.
- Key results can be attached to both Committed as well as Aspirational Objectives.
- They are KPIs with targets and contain measures that are time-bound.
- There are no more than 3 to 5 KRs for each objective.
- KRs can be monetary, people based, progress based, percentage based, grade based, or stage/phase based.
- Initiatives answer the question – what do we do to get there?
- Initiatives are activities that you undertake that is necessary to achieve a Key Result.
- They are within your circle of influence.
- You need at least 1 initiative for each Key Result.