Board documents should be clear and concise, accompanied by a high level of insights. Going into operational detail should only be done when it’s necessary for strategic decision making. Using graphs or charts to present information or trends is a great way of delivering insight at the lower levels. The inclusion of a link to more data or technical information in an appendix is beneficial.
The document should outline the purpose (information or discussion or seeking a resolution) and include a short executive summary that provides the recommendations. The executive summary should not go beyond 4 to 5 lines.
The paper should outline the major issues and risks that are associated with the proposal. If the risk is a significant one there should be a clear mitigation plan and the likely impact must be identified. It is crucial to include the possibility of future risks if the proposal is not implemented in full or not successfully achieved, even in the event that the risk is believed to be minimal.
The document should provide a description of the different options that were considered in the decision making process. It should give a summary of pros and cons or describe how the preferred option scored on the relevant decision criteria. An analysis of alternatives is important as it provides the Board with a range of alternative to consider when performing their governance responsibilities and helps ensure that all possible outcomes have been examined.