
die Ausarbeitung
elaboration
The process by which a plan, concept, or text is developed and formulated in detail.
Die Ausarbeitung des neuen Vertrags hat mehrere Wochen gedauert.
The elaboration of the new contract took several weeks.
elaboration / paper
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elaboration
The process by which a plan, concept, or text is developed and formulated in detail.
Die Ausarbeitung des neuen Vertrags hat mehrere Wochen gedauert.
The elaboration of the new contract took several weeks.

paper / write-up
The result of this process; a finished, detailed document, a written draft, or a treatise.
Bitte reichen Sie Ihre schriftliche Ausarbeitung bis nächsten Montag ein.
Please submit your written paper by next Monday.
The noun 'die Ausarbeitung' (elaboration/paper) is derived directly from the separable verb 'ausarbeiten' (to work out/elaborate). The ending '-ung' turns the verb into a feminine noun that can describe both the process and the result.
Wir müssen dieses Konzept noch genauer ausarbeiten.
We still need to work out this concept in more detail.
Whether the process (meaning 1) or the finished document (meaning 2) is meant can often be recognized from the verb. Verbs like 'dauern' (to take/last) or 'beginnen' (to begin) point to the process, while verbs like 'abgeben' (to hand in) or 'lesen' (to read) point to the result.
Die Ausarbeitung des Businessplans dauerte drei Monate.
The elaboration of the business plan took three months.
The word 'Ausarbeitung' (elaboration/paper) is used very frequently in academic, professional, or administrative contexts. It sounds more formal and precise.
Für das Seminar ist eine schriftliche Ausarbeitung zu einem Thema Ihrer Wahl erforderlich.
For the seminar, a written paper on a topic of your choice is required.
When 'Ausarbeitung' (paper/write-up) means the finished document, it is often combined with verbs such as 'einreichen' (to submit), 'vorlegen' (to present/submit), 'präsentieren' (to present), or 'verfassen' (to write).
Die Studenten müssen ihre Ausarbeitungen bis Freitag einreichen.
The students must submit their papers by Friday.
development
Entwicklung covers the entire process in which a new concept comes into being. Ausarbeitung refers more specifically to the phase in which an existing basic idea is developed and formulated in detail. Entwicklung fits creating the concept; Ausarbeitung fits giving it its concrete form.

Die Ausarbeitung des neuen Konzepts begann nach der Entscheidung für eine Grundidee.
Elaboration of the new concept began after a basic idea had been chosen.
Die Entwicklung des neuen Konzepts begann mit der Suche nach einer passenden Grundidee.
Development of the new concept began with looking for a suitable basic idea.