Longman Dictionary of Contemporary English homepage

formulate

verb
     
for‧mu‧late [transitive]
1 to develop something such as a plan or a set of rules, and decide all the details of how it will be done
formulate a policy/plan/strategy etc
He formulated Labour Party education policy in 1922.
formulate an idea/theory
Darwin formulated the theory of natural selection.
2 to think carefully about what to say, and say it clearly:
We are studying the situation but have not formulated any response yet.
formulation noun [uncountable and countable]
the formulation of clear objectives

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