Open review sessions, in which students imagine themselves as members of the target audience and give "reader response" reactions, are not recommended. It's most effective to have students review particular features of a paper. As instructors, we need to make sure those tasks are clear and precise. Although tasks can be listed on an overhead or board, students often prefer a worksheet that notes specific objectives. If students can compose their commentary on a word processor, they are likely to write more extensive comments. Take advantage of computer supports whenever possible.
The following links provide sample handouts to help specify peer-review tasks.