There are various different types of Key Results. A few of them are listed here:
Best possible vs Committed Key Results #
Refer to setting two different levels of achievement for a Key Result. The best possible KR represents the highest level of success that can be achieved, while the committed KR represents a more realistic and attainable target.
Leading and Lagging Indicator Key Results #
Are used to measure progress towards a goal. Leading indicator KRs track outcomes that happened early on and often form as proxies of the desired outcome, while lagging indicator KRs measure the actual outcome itself, like revenue.
Binary and Success Range Key Results #
Provide different ways to measure success. Binary KRs have a clear yes/no outcome, where either the goal is achieved or it is not. Success range KRs, on the other hand, allow for a range of acceptable outcomes, providing more flexibility in measuring success and insights into progress.
Milestone Key Results #
Used to track progress towards a larger objective. They represent specific milestones or checkpoints that need to be reached in order to achieve the overall objective.
When setting Key Results, it is important to ensure that they are aligned with the overall objective and contribute to the desired outcome. By using a combination of different types of KRs, businesses can effectively measure progress, track performance, and ultimately improve their strategy execution and business performance management.