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Best Practices: Why Are They Worth Pursuing?

Funders are interested in supporting industry accepted best practices for capital infrastructure projects.

  • Technology – Incorporating green technologies or other emerging technologies into your project is easiest done in early phases of the design and construction process. Incorporating these technologies into your project may also be an opportunity to develop a partnership with a research institution, power company, or environmental group, thus boosting your project’s fundability
  • Environmental Stewardship – Capital and infrastructure projects almost always impact the environment in some way. It is worth making the effort to minimize any negative impacts and/or maximize positive impacts to the environment. Environmental stewardship is both the right thing to do and will also increase the fundability of your project. In general, funding agencies want to fund projects that exceed what is minimally required by regulation.

Making your project more appealing to funders does not have to involve dramatic changes. In many cases, highlighting what you are already doing and formalizing existing connections will increase the fundability of a project without much effort. Other elements, such as incorporating industry best practices, can be easily included if you start thinking about increasing your project’s fundability early in the design process. There are many ways in which you can increase the fundability of a project, making it as appealing to funders as possible.

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