Objective and Key Results
Objectives and key results (OKR) is a goal-setting framework that helps organizations define objectives and tracking key results. At the time of implementation, Key results to be achieved at specific periods are properly defined, so that at defined intervals, Key results are measured against an objective, which in-turn provides us the progress we are making on a specific objective, and towards accomplishment of a goal within the organization.
Startegic Intiatives, Milestones, Key Performance Indicators (KPIs)
Strategic Intiatives are established to accomplish the organization's goals, milestones are KPIs are created to track progress against meeting those Strategic Intiatives' success criteria.
Milestones
A milestone is a marker in a project that signifies a change or stage in development. Milestones are powerful components in project management because they show key events and map forward movement in your project plan. The milestones answer the question if we are making progress according to specified timelines.
KPI
The KPIs provides specific measure on various key parameters which need to be measured for the succcess of that project. These are also measured in regular intervals as needed.
Balanced Scorecard
The balanced scorecard (BSC) is a strategic planning and management system. Organizations use balanced scorecards to:
Communicate what they are trying to accomplish
Align the day-to-day work that everyone is doing with strategy
Prioritize projects, products, and services
Measure and monitor progress towards strategic targets
PESTLE Analysis
PEST Analysis is a simple and widely used tool that helps you analyze the Political, Economic, Socio-Cultural, and Technological changes in your business environment. This helps to understand the "big picture" forces of change that you are exposed to, and, from this, take advantage of the opportunities.
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