Board papers should be concise and clear with clear and high-level insight. The ability to drill down to operational details should only be done when it’s necessary to make strategic decisions. Use graphs or charts to provide a summary of data or trends. Linking to more information or statistics on a technical level in an appendix can be helpful.
If the decision is a one-time or an ongoing matter the document should define the purpose of the Board document (information only, discussion or seeking a decision) and include an executive summary that clarifies the recommendation. The ideal executive summary should not go on more than 4 – 5 lines.
The document should describe the major issues and risks that are involved with the plan. If the risk is a significant one it is essential that a clear mitigation strategy and its likely impact should be identified. It is important to consider the potential for future risks in the event that the plan is not fully implemented or if it is not achieved even if the risk is considered to be low.
The paper should include a description of the many options taken into consideration during the decision-making process and include a summary of the pros/cons. It should also mention the preferred choice’s score on the relevant criteria. Including an alternatives analysis is crucial as it gives the Board with a variety of alternative to consider when performing their governance duties and helps ensure that all possible outcomes were examined.
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