A maturity assessment of your board is a tool that lets you assess how well your board is managing itself. Its objective is to help board members improve performance and help make the business more successful. The process typically involves an assessment that is self-administrated and then a discussion with consultants to analyze the results. The majority of models employ a scale of three or five levels to evaluate the various aspects of the board’s performance. The first level is characterized as impromptu, without formal standards or alignment. The third and the second levels are more specific and include processes.
The most important aspect of any maturity model is how it prioritizes learning for your board. If you know what your board’s current status is, it is easy to determine what you’ll have to master in the coming years. There are models that provide general estimates of the time it takes to advance one particular level (e.g. “a level change will take about six months and 25% reduction in productivity”).
Most boards start at the bottom of maturity scale. They are the less conscientious ones who know their obligations and risks. They are hesitant to commit more time and resources than necessary to governance, as it is a distraction from their actual tasks of managing.
They must be taught to be aware that governing, a distinct, different and completely different job is not the same thing as executive management. It requires a totally separate level of professional education assessment, funding, and evaluation. It is a risky activity that requires a lot of imagination as well as your understanding and willingness to take calculated risks in a complex and interconnected world of economics and politics.
