4 OKR examples for Product Functionality
What are Product Functionality OKRs?
The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.
Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.
We've tailored a list of OKRs examples for Product Functionality to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read more about the OKR meaning online.
Best practices for managing your Product Functionality OKRs
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tip #2: Commit to the weekly check-ins
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.
Being able to see trends for your key results will also keep yourself honest.
Tip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples below). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
Building your own Product Functionality OKRs with AI
While we have some examples below, it's likely that you'll have specific scenarios that aren't covered here. There are 2 options available to you.
- Use our free OKRs generator
- Use Tability, a complete platform to set and track OKRs and initiatives
- including a GPT-4 powered goal generator
Best way to track your Product Functionality OKRs
Quarterly OKRs should have weekly updates to get all the benefits from the framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
Product Functionality OKRs templates
We've covered most of the things that you need to know about setting good OKRs and tracking them effectively. It's now time to give you a series of templates that you can use for inspiration!
You will find in the next section many different Product Functionality Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).
Hope you'll find this helpful!
OKRs to enhance product functionality by adding three new features based on user feedback
- Improve product functionality through user feedback
- Achieve a 90% satisfaction rate in user testing for new features
- Reduce customer support interactions related to functionality by 25%
- Implement three new features based on user feedback
- Increase daily active user rate by 15% after feature implementation
OKRs to implement new functionality in our product offering
- Implement new functionality in our product offering
- Obtain 80% positive feedback from beta testers on new functionality
- Develop clear, user-friendly instructions for new functionality
- Regularly monitor and analyze beta tester feedback
- Implement suggestions for improvements promptly
- Finalize development of 2 new features by meeting acceptance criteria
- Implement necessary revisions post feedback
- Conduct rigorous testing for each new feature
- Obtain stakeholder approval for the completed features
- Achieve 95% bug-free releases for the new functions
- Train team members in systematic debugging techniques
- Schedule frequent code review sessions amongst developers
- Implement robust testing protocols for newly developed functions
OKRs to implement engagement visibility for corporate customers on Mina Sidor
- Implement engagement visibility for corporate customers on Mina Sidor
- Increase the number of corporate users by 20% through improved platform functionality
- Conduct targeted marketing for corporate users
- Upgrade platform features based on popular user feedback
- Offer limited-time promotions for corporate sign-ups
- Reduce customer inquiries regarding engagement status by 30% after feature implementation
- Implement a self-help guide for new feature
- Apply customer feedback for feature improvement
- Conduct webinars demonstrating feature usage
- Achieve 90% positive feedback on newly implemented engagement visibility feature
- Gather initial user feedback on engagement visibility feature
- Continuously monitor and adjust feature for user satisfaction
- Improve feature based on user feedback and comments
OKRs to file patent for medical device and enhance prototype functionality
- File patent for medical device and enhance prototype functionality
- Thoroughly research patents in the related field to ensure uniqueness by end of Week 4
- Identify relevant fields for patent search
- Analyze findings for potential uniqueness conflicts
- Conduct comprehensive patent search through online databases
- Implement three major improvements in the prototype based on testing feedback by Week 12
- Complete drafting a unique and detailed patent application by Week 8
- Finalize application, including all diagrams and claims
- Write a comprehensive description of the invention
- Research and analyze existing patents relevant to the invention
More Product Functionality OKR templates
We have more templates to help you draft your team goals and OKRs.
OKRs to improve EV Program outcomes through competitive and strategic data analysis OKRs to implement AI for content enhancement OKRs to enhance continuous improvement processes OKRs to drive tangible growth towards company's 2024 ambitions OKRs to improve internal stakeholder usability of new ERP system OKRs to enhance productivity and proactivity as a VA and document specialist
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: Complete 2024 OKR cheat sheet
- Blog posts: ODT Blog
- Success metrics: KPIs examples