Board evaluation template

A board evaluation can be conducted in a number of ways. Some boards engage external consultants to facilitate the process. Others run internal processes, often using a board evaluation template with their Chair leading a discussion on results and key areas of focus. Whether conducted externally or internally, the methodology broadly remains the same: data is collected to inform the board about its performance.

This varies depending on the complexity of the business. We recommend that boards running internal processes, for example using a board evaluation template, do so once a year. External processes are often conducted once every three years, depending on business needs.

This comes down to the objectives the board is trying to achieve. Areas covered by BoardOutlook include board composition, chair leadership, strategy, monitoring performance, financial oversight, risk management, governance, board committees, board culture, the board-management relationship, board processes and papers, talent, succession and remuneration, and stakeholder management.

A board evaluation template can be used to inform the questionnaire or interviews that are part of the board evaluation process. It helps the board understand its performance across key areas, and identify what is working well and what could be improved, whether the evaluation is conducted internally or externally.