What are OKRs?
OKRs stands for "Objectives and Key Results" and is a framework for goal setting. OKRs seek to resolve the tension between the qualitative and quantitative aspects of goals, by combining them using the formula: I will [Objective] as measured by [set of Key Results]. By not including any the exact action to be taken to reach the goal, the framework also encourages team autonomy.
If a product team has an OKR to work towards, it is often a good idea to place it as the Outcome at the top of their Opportunity Solution Tree.
OKRs are a part of the work on goal setting done in the strategy part of the product management process.