Board documents should be concise and clear, with clear and high-level insight. Only go into the operational details when it is necessary for strategic decisions. Use charts or graphs to provide a summary of data or trends. Providing a link to further information or statistics on a technical level in an appendix is beneficial.
The paper should clearly state the reason for the paper (information or discussion or seeking a resolution) and include an executive summary that provides the recommendations. The ideal executive summary should not go on more than four to five lines.
The document should address the principal risks and issues that are associated with the proposal. If the risk is substantial the mitigation plan and its impact must be determined. It’s important to include the potential for future risks in the event that the plan is not fully implemented or if it is not achieved even in the event that the risk is believed to be minimal.
The paper should provide a description of the many options considered in the decision-making process, and include a summary of the pros and cons. It should also mention the score of the preferred option on the relevant criteria. The inclusion of an analysis of alternatives is essential as it provides the Board with more than one alternative to consider when performing their governance duties and helps ensure that all possible outcomes have been thought through.