Board documents must be clear and concise, with the highest level of understanding. In the event of drilling down to operational detail, it should only be done when it’s necessary to make strategic decisions. Using graphs or charts to summarize data or information trends is also a good method of presenting information at the lower levels. A link to additional technical information or statistics in an appendix can be beneficial.
Whether the decision is one-off or a continuing issue the document should define the purpose of the Board paper (information only or discussion, or seeking an outcome) and provide an executive summary that outlines the recommendation. The executive summary should not exceed 4 to five lines.
The document should address the main issues and risks in the proposed proposal. If the risk is a major one it is essential that a clear mitigation strategy and its likely consequences should be identified. Even if you believe that the risk isn’t too high it is important to think about the potential risks that may result if your plan is not fully implemented or if it isn’t met.
The paper should present a range of options that were considered in the decision-making process. The paper should give a summary of pros and cons or describe how the preferred option was rated on the relevant decision criteria. Including an alternatives analysis is important because it provides the Board with a variety of choice to consider in their governance responsibilities and helps to ensure that all possible outcomes were examined.