{"id":17183,"date":"2019-08-06T00:00:00","date_gmt":"2019-08-06T05:00:00","guid":{"rendered":"https:\/\/blog.planview.com\/goal-setting-tracking\/"},"modified":"2019-08-06T00:00:00","modified_gmt":"2019-08-06T05:00:00","slug":"goal-setting-tracking","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/goal-setting-tracking\/","title":{"rendered":"Business Goal Setting &amp; Tracking: A Guide"},"content":{"rendered":"<p> <!-- .post-meta --><\/p>\n<p><span style=\"font-weight: 400\">Goal setting is a great way to focus your staff or team on the direction and destination of your organization&#x2019;s short, medium and long-term journeys. Having clear goals and pathways for them to be achieved will help your organization to grow, give a clear reference point for all team members and help to harness the sum of the abilities of the organization to move it in a unified direction.<\/span><\/p>\n<p><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2018\/04\/goal-setting.jpg\" alt height=\"400\"><\/p>\n<p><b>Before Setting Your Goals<\/b><\/p>\n<p><span style=\"font-weight: 400\">The process of setting goals must first begin with understanding your organization, the factors influencing it, <\/span><a href=\"\/project-management-stakeholders\"><span style=\"font-weight: 400\">its stakeholders<\/span><\/a><span style=\"font-weight: 400\"> and the environment it exists in. This can be achieved by performing SWOT analysis, defining the Strengths, Weaknesses, Opportunities and Threats for your business. Once you have a clear picture of how your organization is positioned, you can start to create goals that will help to drive it forward. <\/span><\/p>\n<p><b>Methods for Goal Setting<\/b><\/p>\n<p><span style=\"font-weight: 400\">One of the problems with goal setting is actually creating them in the first place, it&#x2019;s very easy to get bogged down in more immediate concerns and constantly miss out on preparing the canvas for the bigger picture. Set aside the time to dedicate to goal setting, this could be at the start of the month, quarter or year. <\/span><\/p>\n<p><span style=\"font-weight: 400\">To start with it&#x2019;s good to learn more about how other organizations set out their goals. One of the most popular ways is <\/span><a href=\"http:\/\/www.clarizen.com\/essential-guide-to-making-your-goals-s-m-a-r-t\/\"><span style=\"font-weight: 400\">to make them <\/span><b>SMART<\/b><\/a><span style=\"font-weight: 400\">, that is:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Specific<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Measurable<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Achievable<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Relevant<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Time Related<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Following this system will ensure that the goals and objectives you pick are actually valid and represent steps that will bring you closer to your desired destination. An example of such a goal might be reducing your organizations expenses.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Specific<\/b><span style=\"font-weight: 400\">: Want to reduce expenditure per unit produced<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Measurable<\/b><span style=\"font-weight: 400\">: How much we spend now per unit vs. how much we want to be spending<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Achievable<\/b><span style=\"font-weight: 400\">: Review all expenditure to find what can be cut without losing capability or quality<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Relevant<\/b><span style=\"font-weight: 400\">: Less expenditure will increase profit<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Time Related<\/b><span style=\"font-weight: 400\">: Desired expenditure level to be achieved after one year, with reviews each quarter.<\/span><\/li>\n<\/ul>\n<div id=\"content-cta\">\n<div id=\"content-cta-text\">Increase your business agility with Planview AdaptiveWork&#x2019;s project management software<\/div>\n<div id=\"content-cta-button\"><a href=\"https:\/\/www.clarizen.com\/resource\/product-tour\/?refer=blogpost\">Take a Product Tour<\/a><\/div>\n<\/div>\n<p><b>Business Goal Tracking<\/b><\/p>\n<p><span style=\"font-weight: 400\">Once you have established your goals, the next step is tracking your progress towards achieving them. These can be mapped through <\/span><a href=\"http:\/\/www.clarizen.com\/product\"><span style=\"font-weight: 400\">online progress management software<\/span><\/a><span style=\"font-weight: 400\"> where each status report from team members can be used to measure overall progress towards your objectives. <\/span><\/p>\n<p><span style=\"font-weight: 400\">A methodology used by an increasing amount of high-value companies is <\/span><b>OKR<\/b><span style=\"font-weight: 400\">, or <\/span><b>Objectives and Key Results<\/b><span style=\"font-weight: 400\">. These set ambitious objectives that might be considered at the very top end of what is achievable, without being so difficult as to be irrelevant. Thus, not only are they something to strive for but your OKRs also push you and your team to the top end of your potential. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Here&#x2019;s how to use them for business goal tracking:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Set 3-5 objectives that are above what you&#x2019;d expect to achieve<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Phrase the language as a final end-state (e.g. improve repeat sales by 33%)<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Outline three Key Results per Objective, these will be your measurable milestones to track your progress<\/span><\/li>\n<li style=\"font-weight: 400\"><a href=\"\/milestone-planning-what-why-and-how\"><span style=\"font-weight: 400\">These milestones<\/span><\/a><span style=\"font-weight: 400\"> should be measurable and demand evidence of completion (e.g. avoid phrases like &#x201C;improved customer relations&#x201D; if you cannot prove it)<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Mark progress on a percentage scale and make it transparent to all team members<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">At the end of the initial time frame, assess your final results, what went wrong if the Objective wasn&#x2019;t achieved and how it could be achieved in the future<\/span><\/li>\n<\/ul>\n<p>&#xA0;<\/p>\n<p><span style=\"font-weight: 400\">Business goal setting and tracking gives both you and your organization direction, as well as informing you about progress at both an individual and project level. Being precise in the setting and measurement of these goals and objectives is therefore very important. Make sure when approaching this process to dedicate the time and attention it deserves, you&#x2019;ll be thankful when you see the great positive impact it has on your ability to define your team or organization&#x2019;s direction.<\/span><\/p>\n<p><\/p>\n<div class=\"client-logo\"> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"Siemens Energy\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/08\/siemens_energy-200x100.png\" alt=\"Siemens Energy\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"IIROC Success\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/07\/IIROC_logo-200x100.gif\" alt=\"IIROC Success\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"Financial Services Institution\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/04\/FINANCIAL-SERVICES-IMG-200x100.jpg\" alt=\"Financial Services Institution\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"M Squared\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/03\/m-squared-logo-200x100.jpg\" alt=\"M Squared\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"Aliancys Success\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2019\/12\/aoc_aliancys-logo-800x400-200x100.jpg\" alt=\"Aliancys Success\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"Bonfiglioli Success\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2019\/11\/bonfiglioli_logo-800x400-200x100.jpg\" alt=\"Bonfiglioli Success\"><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Goal setting is a great way to focus your staff or team on the direction and destination of your organization&#x2019;s short, medium and long-term journeys. Having clear goals and pathways for them to be achieved will help your organization to grow, give a clear reference point for all team members and help to harness the&#8230;<\/p>\n","protected":false},"author":205,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[35],"tags":[],"class_list":["post-17183","post","type-post","status-publish","format-standard","hentry","category-pmo-project-management-organizations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Business Goal Setting &amp; Tracking: A Guide<\/title>\n<meta name=\"description\" content=\"Being able to set and track your business goals is a great way of motivating your team as well as measuring progress.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.planview.com\/goal-setting-tracking\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Goal Setting &amp; 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