What is the proper way to prune a large tree branch?

FAQ
Question: 

What is the proper way to prune a large tree branch?

Answer: 

To prevent extensive bark damage, use a 3-cut procedure when pruning branches that are greater than 1½ inches in diameter.  Make the first cut 6 to 12 inches from the main branch or trunk.  Cut upward and go about one-third of the way through the branch.  Make the second cut 1 to 2 inches beyond the first.  Saw downward from the top of the branch.  As the second cut is made, the weight of the branch will cause it to break at the pivot point between the two cuts.  (The initial, bottom cut prevents the branch from ripping off a large piece of bark as it breaks.)  Make the final cut just beyond the branch collar and branch bark ridge.