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OKRs in Product Management

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OKRs in Product Management

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This talk explores how OKRs can be used in product management in order to describe product-related goals.

This talk explores how OKRs can be used in product management in order to describe product-related goals.

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OKRs in Product Management

  1. 1. Roman Pichler romanpichler.com OKRS IN PRODUCT MANAGEMENT
  2. 2. INTRODUCTION
  3. 3. 3 © 2021 Pichler Consulting Limited OKRS IN A NUTSHELL • Objectives and key results (OKRs) are a method for setting and tracking goals. • An objective describes what is to be achieved. • The key results state how we accomplish the objective. Objective: Increase engagement. Key results: • Daily active users are up by 20%. • Session length increased by 10% on average. • The objective is achieved by 30 June 2021.
  4. 4. GOALS, WHAT GOALS?
  5. 5. 6 © 2021 Pichler Consulting Limited Product Goal Sprint Goal Vision The product’s value proposition and desired business benefits. Desired benefit or outcome the product should create. User and Business Goal Ultimate purpose, positive change the product should bring about. Benefit of a sprint. 5 years plus Product life cycle stage 2-6 months 1-4 weeks Based on “How to Lead in Product Management” ROMAN’S GOAL MODEL
  6. 6. 7 © 2021 Pichler Consulting Limited SAMPLE GOALS Vision Help people eat healthily. User and Business Goal Reduce the risk of developing type-two diabetes; create a new revenue source. Product Goal Help the users to understand their eating habits and acquire an initial user base. Sprint Goal Validate that users are willing to share personal information when activating the app.
  7. 7. PRODUCT-RELATED GOALS AS OKRS
  8. 8. 9 © 2021 Pichler Consulting Limited PRODUCT VISION AND STRATEGY GOALS Objective: Help people eat healthily (vision). Key Results: • Reduce the risk of developing type-two diabetes for males aged 40-55 (user goal). • Offer an app that measures and records sugar levels in food, analyses eating habits, and seamlessly integrates with leading smart scales. • Crete a new revenue source (business goal).
  9. 9. 10 © 2021 Pichler Consulting Limited PRODUCT GOALS Objective: Help the users to better understand their eating habits and acquire an initial user base (product goal). Key Results: • Offer an MVP that provides a healthy eating dashboard and integrates with leading smartwatches and fitness devices; • Launch in Q1; • Be ranked amongst the top 15 diabetes apps six weeks after launch in the Apple app store.
  10. 10. 11 © 2021 Pichler Consulting Limited SPRINT GOALS Objective: Validate that users are willing to share personal information when activating the app (sprint goal). Key Results: • Have a product increment ready at the end of the sprint that implements user stories a, b, c, d, and e and that fulfils the definition of done; • Conduct a usability test with six prospective users; • The test results of at least four people are positive.
  11. 11. 12 © 2021 Pichler Consulting Limited -- BENEFITS AND DRAWBACKS OF USING OKRS Consistency Validation (Goal chains) Lack of visualisation A fool with a tool … +
  12. 12. SUMMARY
  13. 13. 14 © 2021 Pichler Consulting Limited FINAL THOUGHTS • OKRs can be happily used to formulate product-related goals. • But choosing the right goals for your products is more important than using a specific goal-setting method. • Involve the right people in setting the goals to leverage their expertise, create a shared understanding, and secure strong support. • Don’t allow powerful stakeholders to dictate the goals and don’t broker weak compromises.
  14. 14. You can find more information at: romanpichler.com Please send questions & feedback to: info@romanpichler.com THANK YOU FOR YOUR ATTENTION

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