The Roadmap to Success: Management by Objectives
The main methods for management by objectives are: setting SMART goals, creating objectives, setting timelines, monitoring progress, and encouraging feedback.
SMART goals are a way of setting objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound. This means that objectives should be clear, measurable, achievable, relevant to the overall strategy, and have a set timeline.
Once objectives are set, it is important to monitor progress towards them and provide feedback as needed. This helps ensure that employees are on track to meet their goals and can adjust their efforts if needed.
Finally, it is important to encourage feedback throughout the process. This allows employees to provide input on the objectives and the techniques used to reach them, which can help improve the effectiveness of the management by objectives process.
💡 By encouraging employees to create and achieve goals that align with the organization's strategic objectives, MBO promotes creativity and innovation, which in turn can lead to new ideas and business opportunities.
In the context of Agile, MBO can be used to ensure that teams are working towards specific goals & objectives that are aligned with the overall vision & strategy of the organization. MBO can also be used to measure the progress of the team and ensure that they are on track to meet their objectives.
For example, a team may set a goal to complete a certain number of user stories in a sprint or to reduce the amount of time it takes to complete a certain task. If you are the Scrum Master, you would:
Set specific, measurable goals & objectives that are aligned with the overall vision and strategy of the organization.
Communicate the goals and objectives to the team and ensure that everyone is aware of them and working towards them.
Track progress towards meeting the goals & objectives and provide regular updates to the team.
Motivate team members to stay engaged and committed to the success of the project.
... and take the necessary steps to mitigtate risks.