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1) Increasing PR
2) Increasing Goal Conversions
3) Optimize Traffic (Increase the number of unique visits, pageviews. Decrease the overall bounce rate, and increase traffic to those specific areas which lead to further content drilldown)
4) Keyword Ranking (Raise the position of each site on the SERPs for both head and tail keywords)
What am I missing? Also, is it possible to give specific benchmarks? Some of the sites have analytics data, but as of now I have yet to be given access.
If the site is non-transactional then increasing lead flow may be a prime objective. Improving lead quality is another.
Once you've defined your objectives and key results then the steps to accomplish them will become more clear.
Building back from there you could have the above points as needed for achieving the objective (with the exception of PR). For keyword ranking I would suggest it to more specifically focus on ranking for relevant keywords after defining what is relevant based on the target market/visitor.