1. The most important elements of the borrower's Project Implementation Plan (PIP) are covered in the Staff Appraisal Report.  The elements that are essential for achieving the project's objectives are incorporated into the legal documents.  Other elements, agreed with the borrower and implementing agencies, are included in the Minutes of Negotiations or incorporated into letters of intent to serve as a convenient performance monitoring system that can be modified during project implementation through a simple exchange of letters.
2. The PIP contains the following elements:1 The Project Summary of project scope and objectives. Detailed project description: detailed financial and economic analysis of the project, including description of assumptions; description of main project risks (internal and external); critical factors that could affect the project's success, and an assessment of the project's sensitivity to them. Detailed financing plan.
Implementation Arrangements Organization responsible for the project. Implementation agreement between the borrower and implementation agencies. Responsibilities of the implementing agencies and other stakeholders. Relationship of the implementing agency with other entities (ministries, project beneficiaries, etc.); participation arrangements. Role of the Bank during project implementation. Administrative arrangements for project implementation.
Implementation Plan Time-bound detailed implementation plan for each project component, including technical assistance and training. Schedule of procurement actions, including target dates for each step. Schedule of disbursements for each project component, detailing expected Bank financing, government counterpart funds, and cofinancing. Specific actions required to achieve the project's development impact objectives (including implementation of environmental and social actions specified in any mitigation plans, resettlement plans, and indigenous peoples plans). Provision for setting up project accounting and financial management system; agreement on timetable for appointing auditors to audit the institutions' financial statements (short- and long-form audit, including management letter), project accounts, revolving fund accounts, statements of expenditure, etc.
Monitoring and Evaluation Key development impact indicators for measuring progress in reaching project development objectives. Key progress indicators for monitoring delivery of project inputs and achievement of project outputs. Key financial indicators to assess the project's budgetary and financial health. Major loan covenants that require special attention.
____________ This is an indicative list.  The elements of an implementation plan may vary according to the needs of the specific project.
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