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pan Offers Board of Directors Assessment

November, 2003 – Performance Assessment Network, Inc. (“pan”) announced that it is offering the Board of Directors Assessment (“BDA”) for corporate and not-for-profit boards. The BDA provides a communication method to structure information exchanges between board members, executives, and other stakeholders.

The BDA is based upon a concept of the board as an organizational governance team. The BDA provides objective feedback about how the board functions in key areas essential to effective team performance, for example: Goal Clarity; Role Clarity; Cooperation; Communication; Competence; Leadership; Trust; and Standards.

Industrial psychologists first consult with the board to establish goals and reporting schedules and requirements, and then use the patented pan web-based assessment system to administer a feedback rating survey focused on the board as a team. Board members can complete the brief web-based ratings from any location at their convenience. Based on the results of the feedback survey (which also includes benchmarking against other organizational teams) and the consultant review, a report is then prepared and delivered. Both document and verbal reporting options are available. The BDA can be administered repeatedly to chart progress in resolving any problem areas identified on the feedback survey.

pan also is releasing a complementary product based upon its Vita information management technology. The Vita Board Console will provide board members with a secure system for tracking and management of governance-related items, including a common scheduler for meetings and conference calls, agenda and item status tracking, voting, and other board management functions. The Board Console can be adapted to reflect the specific needs of the board and its organization.

“The BDA and the Board Console are important new tools in the era of corporate governance accountability. They give directors a systematic and efficient means of interacting with each other and their executives,” commented pan CEO David T. Pfenninger. “We think that many board problems are due to the lack of information sharing vehicles outside of the quarterly meeting and the executive report. Busy directors can’t keep track of what’s going on. pan’s new products provide a dynamic and data-driven interaction platform for the board that is easy to set up and simple to use. We expect BDA to be well-received by U.S. and European boards concerned with enhancing their contributions to organizational success.”

About pan

Performance Assessment Network, Inc. ("pan") is the leading provider of Internet-based testing and assessment solutions with over 5,000 registered corporate, government, and education customers internationally. pan manages professional online assessment programs and titles for dozens of test publishers, corporate clients, and government organizations, administering hundreds of thousands of tests annually. pan also manages a national network of high-stakes testing centers in addition to its internet testing platform, IT professional services, and product distribution businesses. pan is the distributor of online tests for over 40 top commercial test publishers, and also provides consulting for customers requiring in-house test development. Closely held pan is based in Carmel, IN, USA.
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