Measure the walls you'll be covering with foam board. Sketch out the walls onto a piece of graph paper and plan your installation, based on the size of the panels. You'll be much less likely to waste material if you plan ahead of time for your requirements.
Cut the foam boards to size by scoring them with a sharp utility knife and snapping off excess pieces where necessary.
Place your first foam panel against the wall at a corner to check the fit. Lower the panel and apply an S-shaped bead of construction adhesive on the wall where the panel will fit. Place the panel onto the adhesive and press firmly for several minutes, until the panel is firmly set in place.
Place subsequent panels next to the previously installed panels and check the fit. Apply adhesive and stick each panel up.
Cover the seams between the panels with vinyl tape when the panels have been installed. This prevents air seepage.