Four key words

After boarding keep these 4 keywords in mind: Cut, Stream, Close, Maintain.
These are the first actions to be taken when a life raft has been boarded.
Cut the painter line to free the raft from the sinking boat.
Stream the sea anchor to slow down the rate of drift from your emergency position and to balance the raft.
Close the entrances to keep warm and dry, so the risk of hypothermia will be reduced.
Now start to maintain the raft, by checking for leaks, bailing out water and drying the inside with sponges.
Post a watch keeper.
The watch keeper should look for rescue units, persons in the water, other survival craft and changes in weather. Ventilate the raft at regular intervals to replace the exhaled air, CO2 can cause the survivors to suffocate.