What is a key reason for emphasizing stakeholder engagement in capital planning?

Emphasizing stakeholder engagement in capital planning is crucial because it helps cultivate trust and facilitates better decision-making. When stakeholders, including community members, government agencies, and other relevant parties, are actively involved in the planning process, their insights and feedback can lead to more informed decisions that align with community needs and priorities. This collaborative approach not only enhances the transparency of the planning process but also builds a sense of ownership among stakeholders, which can ultimately lead to stronger support for capital projects.

By encouraging a two-way communication channel, stakeholders feel valued and heard, which can help in addressing concerns and aligning goals. This engagement is instrumental in identifying potential issues early and ensuring that the capital planning process is responsive to the community's needs, thus increasing the likelihood of project success and effective resource allocation.