Rick Klau, formerly of Google Ventures, is a big fan of OKRs (or ‘Objectives and Key Results’). They’re different from KPIs (or ‘Key Performance Indicators’) for various reasons, including the fact that they’re transparent to everyone in the organisation, and build on one another towards organisational goals.
In this post, Klau talks about OKRs as a form of organisational memory, which is why he’s not fond of changing them half-way through a cycle just because there’s new information available.
Let’s not distract ourselves just because someone had a good idea on a Tuesday standup meeting; let’s finish the stuff we said we were going to do. We might not succeed at all of it. In fact, we probably won’t, but we’ll have learned more and more. You can encode that. That becomes part of the institutional memory at the organization. (link and emphasis mine)