The Collaborative International Dictionary of English v.0.48:

Formulation \For`mu*la"tion\, n.
   The act, process, or result of formulating or reducing to a
   formula.
   [1913 Webster]

WordNet (r) 3.0 (2006):

formulation
    n 1: a substance prepared according to a formula; "the physician
         prescribed a commercial preparation of the medicine" [syn:
         formulation, preparation]
    2: inventing or contriving an idea or explanation and
       formulating it mentally [syn: conceptualization,
       conceptualisation, formulation]
    3: the style of expressing yourself; "he suggested a better
       formulation"; "his manner of expression showed how much he
       cared" [syn: formulation, expression]

Moby Thesaurus II by Grady Ward, 1.0:

82 Moby Thesaurus words for "formulation":
   allocation, allotment, apportionment, architecture, arrangement,
   array, arraying, assembly, building, casting, choice of words,
   collation, collocation, composition, constitution, construction,
   conversion, crafting, craftsmanship, creation, cultivation,
   deployment, devising, dialect, diction, disposal, disposition,
   distribution, elaboration, erection, expression, extraction,
   fabrication, fashioning, form, formation, forming, framing,
   grammar, growing, handicraft, handiwork, harvesting, idiom,
   language, locution, machining, making, manufacture, manufacturing,
   marshaling, milling, mining, molding, order, ordering, parlance,
   phrase, phraseology, phrasing, placement, prefabrication,
   preparation, processing, producing, raising, refining,
   regimentation, rhetoric, shaping, smelting, speech, structuring,
   syntax, talk, usage, use of words, usus loquendi, verbiage,
   wordage, wording, workmanship