Board papers should be clear and concise with a high level of insights. In the event of drilling down to operational detail, it should only be done where it’s required to make a strategic decision. Utilize charts or graphs as a way to summarize information or to show trends in data. Providing a link to further information or statistics on a technical level in an appendix is beneficial.
If the decision is a one-time or ongoing the paper should state the purpose of the Board paper (information only discussion, or seeking a decision) and include an executive summary that specifies the recommendation. The executive summary should not go beyond 4 to five lines.
The paper should focus on the principal risks and issues related to the proposal. If the risk is significant there should be a clear mitigation plan and its impact should be determined. Even if you think the risk is not significant it’s important to take into consideration the potential risks that might result if your plan is not implemented fully or is not met.
The document should provide a description of the different alternatives that were considered during the decision making process. It should give a brief summary of the pros and cons or describe how the preferred option boardroomofficial.com was rated on the relevant decision criteria. It is important to include an alternative analysis, as it gives the Board several options to consider when carrying out their governance responsibilities. This helps ensure that they have considered all possible outcomes.