2 Third Party Relationship Manager OKR examples with initiatives

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What are Third Party Relationship Manager 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.

Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.

To aid you in setting your goals, we have compiled a collection of OKR examples customized for Third Party Relationship Manager. Take a look at the templates below for inspiration and guidance.

If you want to learn more about the framework, you can read our OKR guide online.

Third Party Relationship Manager OKRs examples

You will find in the next section many different Third Party Relationship Manager 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 implement robust third-party risk management system

ObjectiveImplement robust third-party risk management system
KRAchieve 95% completion of resilience testing and contingency planning for identified risks
Identify and list all possible risks in the operational process
Develop and initiate resilience testing for each identified risk
Devise contingency plans for each risk based on test results
KRDevelop and launch third-party risk grading system impacting 80% of relationships
Identify key risk factors impacting third-party relationships
Develop a grading system based on these factors
Implement and communicate the grading system to relevant parties
KRIdentify and document 100% of third-party relationships and inherent risks
Catalogue all existing third-party relationships
Assess and note each relationship's inherent risk
Create a comprehensive documentation of findings

third-party-risk-management resilience-testing risk-management-specialist third-party-relationship-manager risk-management-team third-party-management-team

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OKRs to strengthen and streamline third-party relationships

ObjectiveStrengthen and streamline third-party relationships
KRReduce complaint resolution time by 25%
Incorporate automation in handling complaints
Streamline the complaint escalation process
Implement efficient customer service training programs
KRIncrease the number of interaction touchpoints by 30%
Organize webinars or live streams monthly
Implement customer surveys and weekly newsletters
Utilize social media platforms for engaging customers
KRImprove third party satisfaction by 20% through surveys
Implement regular survey distribution to third parties
Improve identified areas causing dissatisfaction
Engage and address feedback from satisfaction surveys

third-party-relationships customer-satisfaction customer-service-manager social-media-coordinator customer-service-team social-media-team

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How to write your own Third Party Relationship Manager OKRs

1. Get tailored OKRs with an AI

You'll find some examples below, but it's likely that you have very specific needs that won't be covered.

You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.

1. Go to Tability's plan editor
2. Click on the "Generate goals using AI" button
3. Use natural language to describe your goals

Tability will then use your prompt to generate a fully editable OKR template.

Watch the video below to see it in action 👇

Option 2. Optimise existing OKRs with Tability Feedback tool

If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.

1. Go to Tability's plan editor
2. Add your existing OKRs (you can import them from a spreadsheet)
3. Click on "Generate analysis"

Tability's Strategy Map makes it easy to see all your org's OKRs

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

You can then decide to accept the suggestions or dismiss them if you don't agree.

Option 3. Use the free OKR generator

If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.

Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.

Third Party Relationship Manager OKR best practices

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

Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your 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.

Tip #2: Commit to weekly OKR check-ins

Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.

Being able to see trends for your key results will also keep yourself honest.

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 above). 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.

How to track your Third Party Relationship Manager 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

Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.

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.

More Third Party Relationship Manager OKR templates

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

2 OKR examples for Third Party Relationship Manager