Systematic approaches to the planning of financial instruments can help to improve their effectiveness. A new short reference guide from fi-compass structures the life cycle of a financial instrument along four logical phases (design, set‑up, implementation and winding‑up). This 16 page reference guide is relevant for all ESIF financial instruments and it summarises the main activities of each phase to ensure a comprehensive and efficient process. Sources of further information and references to key regulatory considerations are also featured in the new short reference guide. Find out more: Developing an action plan.