Board papers should be clear and concise, with high levels of insight. Drilling down to operational detail should only be done where it is necessary to make a strategic decision. Use graphs or charts to present information or to show trends in data. The inclusion of a link to more details or statistics in an appendix can be beneficial.
If the decision is a one-time or an ongoing matter the document should define the purpose of the Board document (information only discussion or seeking a decision) and provide a brief executive summary that outlines the recommendation. The executive summary should not go beyond 4 to five lines.
The document should address the principal risks and issues in the proposed proposal. If the risk is substantial the mitigation plan and the impact should be determined. It is important to consider the potential for future risks if the plan is not fully implemented or is not achieved even if the risk is considered to be low.
The paper should include an overview of the different alternatives that were considered in the decision-making process, and should include a brief summary with pros/cons. It should also highlight the score of the preferred option on the relevant criteria. It is essential to include an alternative analysis, as it gives the Board several options for them to consider when performing their governance responsibilities. This will ensure that they have considered all possible outcomes.
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