“Many are the plans in the mind of a man”: See 16.1, 9 for a similar thought. “Mind”, as usual in Hebrew, is “heart.” “Plans” in 6.18 renders the same word as here. There, however, the “plans” are “wicked.” In this verse “plans” seem to be neutral. New Revised Standard Version has “The human mind may devise many plans.”
“But it is the purpose of the Lord that will be established”: This line is literally “but the plan of the Lord it will stand.” Regardless of the schemes or plans that people have, they will be overruled by the Lord‘s own plan. In this context the sense of “will be established” is “will stand firm” or “will prevail” (Revised English Bible, New Living Translation). Contemporary English Version translates the whole saying “We may make a lot of plans, but the Lord will do what he has decided.”
Quoted with permission from Reyburn, William D. and Fry, Euan McG. A Handbook on Proverbs. (UBS Helps for Translators). New York: UBS, 2000. For this and other handbooks for translators see here .
