A board analysis is an image, usually an enormous whiteboard, which is placed next to a process in order to compare the actual performance with the planned performance. The board enables a company to monitor its operational performance in terms of quality quantity, timeliness, and quality. The board also allows managers to recognize and track any issues that arise during the work shift or day. The chart is a great tool to reduce the amount of waste and increase efficiency, particularly for companies that have strict production schedules.

A common analysis of the board is to determine the background required, the skills and experiences in the board for the company to meet its strategic goals. This can be a challenge because it requires a thorough understanding of the current and future requirements of the business, as well an assessment of the effectiveness of the board in meeting the needs.

Another type of evaluation is to determine whether the board is functioning on a fiduciary basis, ensuring check that that directors are meeting their legal and financial obligations and acting in the best interest of the company. A thorough assessment of the board is the only way to know if the board is functioning at this level. However, many boards are unable to establish an effective system of evaluation of board members.

One option is to utilize an online platform for boards that includes pre-designed assessment templates created by experts in governance. It also gathers feedback anonymously for insights into the board’s performance, based on candor and authenticity. The platforms also allow you to reduce costs by eliminating the necessity for paper-based surveys as well as binders, which add up quickly when you think about the cost of printing toner, shipping and reprints.