What is a project proposal, really?
A project proposal is a key document that you consider sending to the potential client, sponsor, or investor in order to get your proposed project approved or funded. Every project proposal is different in terms of its content but the core structure/format remains the same. A project proposal must include all essential details in order to be accepted or funded.
Only a project proposal that is relevant, comprehensive, and impressive will have a higher chance of converting, getting your prospect’s approval, and landing a deal.
What are the key elements of every successful project proposal?
- Background of why the project is being proposed i.e what problem are you trying to solve
- Investment required
- Key deliverables
- Overview of the timeframe
- Roles and responsibilities of the people involved in the project
- Impact of not doing the project (not mandatory)
Types of Project Proposal
There are six different types of project proposals
- Formally solicited
- Informally solicited