The document discusses various factors to consider for effective documentation of open source projects. It emphasizes that lucid documentation can help with rapid community growth, attracting more contributors, enhancing code quality, and aiding bug fixes. Conversely, poor documentation can repel users, lead to less understood code, slow project growth, and cause spurious bug reports. Some highlighted factors include keeping documentation up-to-date, using version control, integrating feedback, examples to aid learning, and considering different user types like end users, developers and architects.