You might be thinking, what’s OKR, V2MOM and ISO and if you know these terms already, you might be wondering how these terms are related to each other.!!!
A facebook post by Alok Kejriwal prompted me to write this post.
I went on to read the Business Insider post on OKR’s implemented in Google. What is OKR? Objectives and Key Results. OKR’s are simple way to create structure for companies, teams, and individuals.
OKR’s stands for Objectives and Key Results. It is a method of defining and tracking objectives and their outcomes.
OKR’s were invented at Intel, and made popular by John Doerr. While OKRs were first deployed at large companies such as Intel and Oracle, OKRs are used by companies of virtually all sizes.
Inspired by a John Doerr presentation back in the late 90s, Google used OKRs in its early days and continues to use OKRs today.
First, you set up an Objective. Then you set up a number of “Key Results” that are quantifiable that will help you hit your objective. The benefits of OKRs as defined by Jayme Hoffman are disciplines thinking, communicates accurately, focuses effort and establishes indicators for measuring progress.
Now there are other systems like V2MOM, ISO 9001 etc which i feel also talks about the same objectives and key result areas. Lets do a mapping of all the three methods and lets see how they are interrelated to each other. Even though the implementation details differ in all the three methods, the core of the idea remains the same. Lets know about V2MOM and ISO and lets map all three methods.
In Marc Benioff’s (Founder, Chairman and CEO of Salesforce.com) book Behind the Cloud he talks about the V2MOM planning process he used at Salesforce.com to grow it into the largest SaaS company in the world. The goal with V2MOM is to create alignment from the CEO through to every front-line employee. V2MOM represents vision, values, methods, obstacles, and metrics.
A key aspect of V2MOM is that it is done at the corporate level, each department, and each individual. Here are more details of each:
- Vision – big picture idea for the next 12 months
- Values – the main 3-5 values for the company
- Methods – specific tactics to achieve desired goals
- Obstacles – openly talk about things that are working against success
- Metrics – key performance indicators
V2MOM also benefits in collaboration and communication, focused effort and indicators for measuring progress.
ISO 9001:2008 specifies requirements for a quality management system where an organization
- needs to demonstrate its ability to consistently provide product that meets customer and applicable statutory and regulatory requirements, and
- aims to enhance customer satisfaction through the effective application of the system, including processes for continual improvement of the system and the assurance of conformity to customer and applicable statutory and regulatory requirements.
So as part of implementing ISO 9001 Quality Management System at Suyati Technologies, where i currently work, we implemented a system to measure, analyse and monitor the performance of organization and each department.
One of the 8 requirements of ISO 9001 is measurement, analysis and improvement. To continually improve, organization shall plan and implement the monitoring, measurement, analysis and improvement processes. For that to achieve, we have defined Quality Objectives for the organization as well as all the departments. Each quality objective shall be measurable, achievable and quantifiable.
For e.g. To achieve bug free software is not a quality objective. It is a dream and our ultimate aim. How will you achieve bug free software is the question to be answered. Having a dream is great but how you are achieving is also as important and measuring it paves the way forward and answer questions like are you doing it fine, are you doing it correctly, if not where are the problems and what is the root cause. A dream is a good starting point and important, but how we can translate a dream to a measurable objective is much more important. So to achieve a bug free software, we should have objectives like reducing the bug density (no: of features/total no of bugs) by x%, reducing the schedule slippage by x% etc. These are the quality objectives to achieve the dream of delivering a bug free software. In OKR vs ISO, the objective is the dream and the key result areas are the quality objectives in ISO.
Having a quality objective helps us (enterprise, departments, individuals) to evaluate ourselves better and improve continuously. It’s not a curse rather a boon for all of us even in personal life to have a measurable objective.
How are OKRs, V2MOM and ISO related?
Now coming to the topic, i feel these terms are related to each other and all talks about better planning and setting objectives to measure the performance. The terminologies are different but ideas behind each of these system is the same. The core idea remains the same, only the implementation is different. It should suit your needs and you should define the objectives rather than anyone else. Because you know your process areas and key improvement areas. This will help in self evaluation as well as better collaboration and communication among teams. Once you set your objectives you can work out on the key result areas that define your objectives.
Implementing any new system will be difficult but once implemented a system based on your needs, it will help us to grow exponentially. Employees may think that keeping track of the progress might disrupt their work, but we should understand that it will actually help us in long run. These metrics are actually our performance and we ourselves can know where we lacks and the ways to improve our own performance. Having quarterly OKR/Quality Objective scores can help everyone point out where/what needs to improve and documents clear-cut cases where we have been unproductive.
Let me know your thoughts on this mapping and let us know what you use in your organization?