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Board decision papers can be a valuable instrument for directors to make informed decisions. They are prepared to provide the information and analysis needed by a board to review and approve any proposed decision. They can be used to discuss major capital investments and subsequent revenue implications, acquisitions/dispositions, introducing new services or changing existing ones, organisational structure changes, budgetary decisions, granting contracts or joint ventures etc.

The best papers for boards begin by specifying their purpose such as information only, discussion only or seeking an answer – and clearly state the board’s opinion. The paper should then include an introduction to the topic, as well as an executive summary (ideally not more than a single paragraph of 4 and a few lines) and a thorough rationale, covering strategy, risks and financial information. It should also provide an overview of possible solutions and the reasons why the solution proposed is the most appropriate for the organisation.

Many board development experts and chairs we spoke with suggested that executive teams use a decision-focused format for their documents. The titles of the paper should reflect the decision that needs to be made, rather than being organized by thematic. This allows boards to manage the information more efficiently and challenges them to think about how they could tackle each issue.

Edit your board papers until they are clear and concise. It is beneficial to read your draft over again the next morning following a night’s sleep.