Executive summary

An acquisition recommendation that changes with diligence

Hypothetical: an associate prepares a concise partner memo stating an acquisition recommendation, key evidence, valuation assumptions and unresolved risks, then revises it as diligence changes the findings. It need not be exactly one page or drafted only after every supporting section.

Make the recommendation and its condition visible

Digital.gov’s organization guidance puts the purpose and most important information before background. For a decision memo, the reader should be able to find what is recommended and what could change it.

Hypothetical executive summary.

“Continue diligence on the distributor, focusing on customer retention. The revenue records show repeat purchases, but we have not confirmed whether the largest customers will renew after a sale.

Authorize the customer interviews and contract review described in the work plan. Return for a bid decision once that evidence is available; do not treat recurring purchases alone as proof of transferable revenue.”

The body of the memo should support each statement: the revenue analysis, the unanswered retention question and the proposed work. If a later interview changes the recommendation, update the summary as well as the detail.

A summary that keeps the old conclusion after its evidence changes is no longer a faithful summary.