The Key Components of an Actionable Development Plan

Development projects, both simple and complex, require careful planning to make them successful. Any development project will require a comprehensive outline of supporting documentation, policies and information that is relevant to the success of the intended structure being built.

While development planning begins on paper, it will ultimately need to be implemented practically. Therefore, actionable steps need to be included in the development framework to turn abstracts concepts into reality. The key components of a successful development plan include the following:

Involvement of key stakeholders

A typical development project begins with comprehensive consultations with project owners, government agencies, environmentalists and investors. Everyone who has a stake in the project needs to be heard and contribute where necessary.

For example, when constructing a bridge, environmentalists may have an assessment on the impact on aquatic organisms, while investors may express concern about the timeline or overall cost of the project. Government agencies may want to ensure that the construction work will adhere to established safety regulations for both workers and the general population.

Through consultation and negotiation, the development plan will be designed and all stakeholders can co-sign on the agreed plans.

Environmental impact assessment

Any significant development project will draw the attention of environmentalists. They will want to ensure that the soil, water, air or landscape is not being degraded due to the construction project.

It is important for the development plan to include a detailed assessment from environmental professionals so that stakeholders can implement actionable strategies that will aim to minimise the environmental impact.

Financial assessment

For a development plan to truly hold water, it needs to have a detailed financial component. The cost of the project, raw materials, and contractors needs to be clearly detailed in the plan.

One of the biggest challenges that face most development projects is a lack of funds that results in the project being stopped halfway. With a detailed financial assessment and clear budget, hidden costs and other financial challenges can be identified and handled in advance.

Long-term feasibility

Development projects need to be able to function over the long term. This means that adherence to quality, detail and relevance will be important during the planning process. A specific structure being built should have an expectation for how long it will last before it requires repairs or renovations.

With an actionable development plan, projects can be designed and implemented within realistic and dependable timeframes. Their feasibility and usage can also be identified in advance to determine the return on investment and reliability of the project.