What's the purpose of the board? If it's classroom, there is an open source alternative to Blackboard that IS has been testing, called Sakai.
Otherwise, as Alvin has it above, php and MySQL are required to run phpBB. We have a server (obviously enough) capable of doing that, but there are some issues with maintenance with phpBB. Not much, mind you, but some.
Robert J Crisler
Manager, Internet and Interactive Media
321 Canfield Administration Building
University of Nebraska-Lincoln