You had to know it was coming...FITREP GOUGE! Perfect timing for O3s and O2s!
First, some great links:
http://www.navywriter.com/navy-fitrep.htm
http://www.navyfitrep.com/officer.html
And, a great powerpoint that I stole from navyfitrep.com:
Navy_Evaluations_NAVSEA.ppt
Some pointers that I've always followed:
1. Block 28: if your unit participated in an exercise, it should be listed here if there is room. This lets you get credit for being there, which can help when claiming credit for awards or joint discretionary points later down the road.
2. Pay attention to Block 29. You should list every collateral duty, plus any significant qualifications that you've done. Don't forget things that you may be qualified but haven't done in a while (such as Casualty Assistance Calls Officer, Voting Assistance Officer, etc.).
3. Make Block 40 work for you. If you want to go to PG School, make sure it says that. For some reason, a lot of commands blow this off and just list the same garbage for all officers. Review board guys must get a laugh if a captain is recommending new LTs and 5 year LTs for the same follow on duties. If you know what future billets you want, list them in Block 40.
4. The numbers that matter is where you rank in your group and where you rank compared to your reporting seniors average. If your captain has done it right, he'll rank people lower when they first get to the command and raise them through the years, so that the board sees steady progress. Someone that gives all 5s all the time doesn't do anyone any favors.
5. Take it seriously. Spend the time summing up what you did, and pack Block 41 with lots of easy to read, easy to understand achievements. Make it easy for someone from another warfare area to read and understand what you really did.
6. Before you sign your FITREP, make sure the rankings make sense (Block 42/43). Back in the day, skippers were allowed unlimited Must Promotes for LTs, but we still had folks grading LTs as Promotable that thought they couldn't give them an MP. Read the instruction! (Start at page 54, plus read NAVADMIN 219/11 for LT FITREP changes)
7. Above all, cut out fluff. Nobody cares about your volunteer service (put in for the Outstanding Volunteer Service Medal). Nobody cares that you have a great personality. Promotion boards care that you excelled at carrying out military duties. View everything you write in Block 41 in that light.
Spend the time and do your FITREP correctly. It stays with you your entire career.