Objective and key results (OKRs) are a goal setting framework that arose out of Intel in the 1970s and is a refinement of management by objectives (MBO)1.
An objective is what the company wants to achieve, i.e. the goal. Key Results are the how: the path to the goal. Objectives should be big and motivating. Key Results should be measurable2, and therefore have metrics that can be tracked in a dashboard.
Differentiate between aspirational OKRs and committed OKRs. The former have unclear paths to success or even may be unachievable (they should have about a 70% success rate). In contrast, committed OKRs are expected to be delivered and success rate should be a 100%. Finally prefer a small number of OKRs over a laundry list2.
1. Sparks, R. OKRs: The Ultimate Guide. https://www.atlassian.com/agile/agile-at-scale/okr.
2. Doshi, R. 10 Tips For Using OKRs Effectively. https://rushabhdoshi.com/posts/2020-06-18-10-tips-for-making-okrs-effective/?__readwiseLocation= (2020).