Board documents should be clear and concise, with high levels of insight. The ability to drill down to operational details should only be done where it’s necessary to make a strategic decision. Using graphs or charts to summarise information or data trends is also a good method of providing insight at a lower level. In an appendix, it’s helpful to provide a link for more technical information or statistics.
Whether the decision is one-off or a continuing issue the document should define the purpose of the Board document (information only www.boardroomofficial.com/practical-steps-for-getting-the-best-data-room-software discussion, or seeking a decision) and provide an executive summary that specifies the recommendation. The executive summary should not go on greater than 4 – 5 lines.
The paper should highlight the principal risks and issues associated with the proposal. If the risk is significant the mitigation plan and its impact should be identified. It is important to consider the potential for future risks if the proposal is not implemented in full or if it is not achieved even it is thought to be low.
The document should contain an overview of the different options that were considered in the decision-making process, and should include a brief summary with pros/cons. It should also mention the preferred option’s score on the relevant criteria. Including an alternatives analysis is important as it gives the Board with a variety of choice to consider in their governance responsibilities and helps ensure that all possible outcomes were taken into consideration.