I had my "Three R Theory" for my journal last year. Read, Review, and Reflect
This was mainly for research - I listed the title, did a mini-essay on the book, it's concepts and the bits I was interested in, and then I reflected on what I had learnt from the text and how it had affected me as a writer, how it could change/improve on my major work etc.
You should be *constantly* reflecting. Remember, the aim of the game is not just to write drafts - you should also be thinking about the writing process as a whole. The Board, unfortunately, are not gifted with psychic powers and concequently require you to actually write out what you're thinking.
Last year, I printed off my drafts where each page of text only took up about half a page. I'd stick this into my journal and write notes EVERYWHERE... things like "I really like this line, it shows how ______________", or "The character development here isn't as smooth as I'd like it to be. I thought of a way to fix it though, when I was reading _____ the other say - one of the characters was given frequent dream scenes where time was frozen and ______ ... I was thinking if I could do something like this (starting where _____) then everything might work more smoothly. Now, just to write it!" etc etc.
Drafts *are* good, but they're not exactly what I'd call reflection. Even if every few pages, you sort of write a diary entry - what you've done, what you think about it, what you think needs to be done from here etc etc.