Policy formulation is the process of developing effective and acceptable courses of action using resources and supporting information to convert ideas into practically implementable solutions in order to deal with certain activity or address challenges which are in the direction of the policy objectives.
Prado Power operates in the policy formulation space and renders support to bodies designing development frameworks. In our engagements, we generally follow a process with phases outlined below:
Agenda setting helps policy makers decide which problems to focus on. Topics for discussion go through several types of agendas before decisions are made on which to move forward with. Types of agendas might include:
In policy formation, solutions to problems are shaped and argued. This phase is characterized by consideration of various angles and facets, as well as negotiation between parties involved in the process.
Following the formation, we step back and watch while the policies are put into action. The implementation of policy is very important as this determines the value obtained from the whole process.
Following implementation, we conduct evaluations to determine if the policies created are effective in achieving their goals.
When assessing this, we consider:
Evaluation may occur either during implementation or after the policy in question is finished.
Policy Maintenance, Succession or Termination
Once implemented, policies are periodically gauged for their relevancy and use. This may result in their continuation, amendment or termination. These incidents often occur due to shifting goals, values, beliefs or priorities.
So the cycle goes. The right policies provide a basis for right actions and we will continue to do our bit to get this right.