5 OKR examples for Budget

What are Budget 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.

Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.

We've tailored a list of OKRs examples for Budget 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 Budget 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.

Tability Insights DashboardTability's audit dashboard will highlight opportunities to improve OKRs

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.

Tability Insights DashboardTability's check-ins will save you hours and increase transparency

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 Budget 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.

Best way to track your Budget OKRs

The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. 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

We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.

A strategy map in TabilityTability's Strategy Map makes it easy to see all your org's OKRs

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.

Budget 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 Budget 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 effectively manage expenditure within budget

  • ObjectiveEffectively manage expenditure within budget
  • Key ResultIncrease savings by 5% through strict budget adherence
  • TaskCut down discretionary spending and identify savings
  • TaskImplement a structured budget to monitor income and expenses
  • TaskRegularly review and adjust budget for optimal savings
  • Key ResultReduce unnecessary expenditure by 10%
  • TaskImplement cost-saving measures in those identified areas
  • TaskRegularly review and adjust budget to maintain reduced expenditure
  • TaskAnalyze monthly financial reports to identify wasteful spending areas
  • Key ResultTrack and categorize all expenses weekly
  • TaskReview and adjust budgets based on weekly expenses
  • TaskSet a weekly reminder to review and log all expenses
  • TaskCategorize each expense into pre-set budgets

OKRs to optimize resource allocation and budget management

  • ObjectiveStreamline resource utilization and expense control
  • Key ResultReduce resource waste by 20% via weekly project impact analysis
  • Key ResultDecrease expenses by 15% through monthly budget audits
  • Key ResultImprove team productivity by 25% with resource training and development
  • Key ResultEnhance real-time project monitoring with 100% tool adoption rate

OKRs to within budget

  • ObjectiveMaintain expenses within budget
  • Key ResultAchieve 90% accuracy in budget forecasting
  • Key ResultIncrease departmental efficiency by 15%
  • Key ResultDecrease variable expenses by 10%
  • Key ResultImplement cost-cutting initiatives resulting in a 5% reduction in fixed expenses

OKRs to enhance spendability for improved customer satisfaction

  • ObjectiveEnhance spendability for improved customer satisfaction
  • Key ResultImplement 2 new customer-focused promotional campaigns
  • TaskExecute and monitor the promotional campaigns
  • TaskIdentify potential customer needs and interests for promotional campaigns
  • TaskDevelop strategies and materials for two new campaigns
  • Key ResultIncrease monthly budget allocation to customers by 20%
  • TaskImplement the new increased budget into the financial plan
  • TaskDetermine a 20% increase of these individual amounts
  • TaskCalculate the current budget allocation for each customer
  • Key ResultImprove customer service training to decrease complaints by 30%
  • TaskImplement comprehensive customer service training program
  • TaskAddress complaint areas during team coaching sessions
  • TaskMonitor and assess staff's interaction with customers

OKRs to improve financial operations for increased efficiency and effectiveness

  • ObjectiveImprove financial operations for increased efficiency and effectiveness
  • Key ResultImplement a new budgeting strategy, ensuring 95% adherence to it
  • TaskConduct training on new budget adherence
  • TaskDevelop comprehensive, realistic budget strategy
  • TaskRegularly monitor and assess budget compliance
  • Key ResultReduce operational costs by 10% through optimizing resource allocation
  • TaskImplement optimization strategies for resource allocation
  • TaskEvaluate success metrics post-implementation
  • TaskAnalyze current resource distribution for inefficiencies
  • Key ResultIncrease return on investment by 15% via strategic financial decisions
  • TaskImplement cost-cutting measures across all departments
  • TaskEvaluate and identify profitable long-term investment opportunities
  • TaskRestructure high-cost debt to reduce expenditure

More Budget OKR templates

We have more templates to help you draft your team goals and OKRs.

OKRs resources

Here are a list of resources to help you adopt the Objectives and Key Results framework.