Products are unique and the value that they deliver can be further improved through testing and feedback. Product performance can be enhanced through cycles of prototyping and deploying, and OKRs can be derived to set a direction for the process.
While implementing OKR, the objective is qualitative and provides a broad goal or what is to be accomplished. These objectives are backed up by key results, which are quantitative and measurable benchmarks which monitor how the objective is achieved. Key Results (KRs) are specific, measurable and time-bound. OKRs are a handy tool for aligning goals throughout an organization and across teams.
Implement user testing and verification of product
→ Conduct 20 live usability testing interviews of the product prototype.
→ Integrate user testing into pre-launch strategy.
→ Ask users of the current release to fill out a feedback form.
Increase user engagement
→ Increase 1-month retention from 15% to 40%.
→ Increase average time using product from 30 minutes to 1 hour per week.
→ Increase the average number of product page views from 10 to 15 per week.
Increase delivery speed of new features
→ Increase sprint team velocity from 15 to 30 points.
→ Reduce the number of bugs per feature from 15 to 5.
→ Reduce average lead time from product feature definition to delivery from 7 to 4 weeks.
Improve the development process
→ Increase unit-test coverage from 45% to 60%.
→ Reduce deployment time from 20 minutes to 5 minutes with automated CI/CD.
→ Reduce a single ticket’s open time from 20 days to 4 days.