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"formulating policy" is a correct and usable phrase in written English.
It is often used to describe the process of creating or developing policies, rules, or regulations for an organization or government entity. Example: The committee spent months formulating policy recommendations for the new environmental regulations. Another example: The president's team is currently in the process of formulating policy proposals for healthcare reform.
Exact(60)
"We will never forget this, and, for sure, we will consider this when formulating policy".
Administration officials say they are still formulating policy on the subject.
The outcome of the study would help in formulating policy guidelines and intervention strategies.
Ley, who came into the health portfolio in December, promised to consult more with doctors and patients before formulating policy.
He was involved in formulating policy and legal strategy, consulting Congress and industry, and coordinating interagency efforts on these matters.
The nation's Democratic governors demanded a greater role from Congressional Democratic leaders today in formulating policy and making the party's case to voters.
The nation's Democratic governors told Congressional Democratic leaders they want a bigger role in formulating policy and making the party's case to voters.
In her first full day as president, Mrs. Arroyo met with opposition leaders and began selecting her cabinet and formulating policy, her aides said.
Instead, the vice-president and his staff were allowed to operate what amounted to their own state department, formulating policy and speaking openly about it.
He argued that the Iranian government should put the country's national interests first when formulating policy toward Israel and not base it on extremist ideology.
Alternativet, a progressive Danish political party with nine members of parliament, is piloting Pol.is as a way to give its members a more direct role in formulating policy.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com