Using planning documents to secure funding

Written by Brian Jackson, Director Consulting Services

Planning is a critical component of every project and is equally a critical component of securing funding.

Why are strategic, project and master plans so important to secure funding?

Planning is a critical component of every project and is equally a critical component of securing funding.

The planning stage of a project acts as a framework for growth, establishing eligibility, and ultimately increasing the credibility and visibility of a project before it has even begun. By demonstrating your project is well planned to deliver good tangible outcomes at the funding application stage, you will increase your success rate in securing funds. 

Planning documents provide a roadmap for future development decisions. Comprehensive planning will establish project feasibility and provide informed decisions, demonstrating that it is not just an ‘idea’.  It will produce practical and realistic approaches for delivery and identify any strengths, issues, and risk constraints prior to commencement, ultimately saving hours of time and money in the long run.  Read our article about “Planning to plan - some key questions to ask when developing plans”.

What are the differences?

Strategic Plans

Determines and identifies goals and objectives, establishes desired outcomes and actions, and provides metrics for measuring success.

Community engagement and support is generally required prior to advancing a project idea.  Strategic documents will form the ‘need’ of the project and help shape the plans to demonstrate community connectivity, pride, inclusivity, and values. These are key documents that guide future decision-making.

For more information about strategic plans, please visit our previous article ‘A Strategic Approach to Planning’

Master Plans

Investigates feasibility, focuses on the aesthetics and design of a project, and assists in identifying various phases of a project to break down into proportional achievable stages to assist in securing funding throughout the stages of the project.

Project Plans

Defines a project in detail, identifies specific project needs and risks, realises project timelines and costs through effective procurement methodology planning, and provides a tracking mechanism.

What do they have in common?

All three planning documents create a long-term robust vision for realising social, economic, and environmental potential of any development, presenting confidence, and providing a strategic platform and evidence base to assist in securing funding. 

The reality of many work environments is that we don’t have the necessary time to plan our projects.  By planning a little better now, you can help reduce the agonising hours of re-work later. Planning documents can assist in preventing missed deadlines as well as boost productivity and staff morale by getting it right the first time.

Funding programs don’t always offer the total amount of funding required for a project.  Detailed planning will allow for some projects to be completed in stages which will assist in unlocking funds.

Peak Services assisted 10 councils across 20 different projects in securing funding under the recent Building our Regions grant round – see article BoR6 Funding Success

For more information about developing project planning documents, grant application and co-ordination, or procurement methodology assistance please contact Brian Jackson bjackson@wearepeak.com.au