There are several factors to consider when thinking about board packages. Some of these are
- Preparation time
- Costs
- Usefulness and Relevancy
- Practical value
Preparation time
Preparing board packages is a time-consuming task for senior administrators and their teams. The CEOs have to consider;
- The time frame since many boards want the packages a specified number of days prior to each regularly scheduled meeting, preparation time has to be scheduled
- Whether the data is being provided for information purposes, to seek advice from the board, or to assist the board during its decision-making process
- The specific details in the package to ensure the board can consider the
- risks,
- political ramifications associated with the options,
- how solutions support the achievement of the board’s plan, and
- the fiscal realities,
prior to making any decision.
Costs
It is important for each board to do a cost-benefit analysis of board packages? The costs include
- the time utilized to gather and prepare material,
- mailing costs or courier services,
- the purchase and maintenance of electronic equipment for boards which use paperless methods, and/or
- the costs of maintaining board portals which enable board members to access information directly from the board’s website.
Usefulness and Relevancy
It is critical to provide relevant information in a format which makes it readily accessible to board members. It is easy to copy lengthy reports or add them to the board website, however, that may not be the best approach. Many reports contain too much information which is not relevant during the decision-making process. Board members need to know
- the issues
- background details
- the options (potential solutions)
- the pros and cons associated with each option
- all associated risks
- short- and long-term implications associated with each option, and
- the political landscape.
A large board package may look impressive. It may not be the most useful or practical for board members. The key is to make sure information is reliable and relevant.
Practical value
On the one hand, preparing board packages can be rewarding when it is clear that board members read the material, do their own research, and use information constructively during board deliberations.
On the other hand, it can seem like a thankless task for staff when board members
- never open their packages in advance of board meetings
- open the packages, read the topics and the summaries, and rarely read all the material because there is too much and they do not have the time to dedicate to the task
- read only portions of the material and ask questions which were already answered in the material
- read the information and focus on the minute details and use those to derail discussions or intrude in management territory
Boards need information. The key is for boards to discuss what their members need and the format which makes critical information accessible.
