Board papers should be concise and concise with an excellent level of information. Going into operational detail should only be done when it’s necessary to make strategic decisions. Utilize charts or graphs to present data or information trends. In an appendix, it’s important to include a hyperlink for more technical information or statistics.
Whether the decision is one-off or an ongoing matter the paper should state the purpose of the Board document (information only discussion or seeking a decision) and include an executive summary that outlines the recommendation. Ideally, the executive summary should be no greater than 4 – 5 lines.
The paper should outline the main issues and risks associated with the proposal. If the risk is a major one it is essential that a clear mitigation strategy and the likely impact must be identified. Even if you believe the risk is not significant it is important to think about the risks that could result if your plan is not fully implemented or is not met.
The document should contain a description of the many options taken into consideration in the decision-making process, and should include a brief summary with pros/cons. It should also provide the preferred choice’s score on the relevant criteria. It is essential to include an alternative analysis as it provides the Board more than one option for them to consider while performing their governance duties. This ensures that they have considered all possible outcomes.