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A project proposal, also known as a business or work proposal, outlines the approach to addressing project requirements and constraints. It is the first impression on potential clients, showcasing your team's capabilities and why you are the best fit for the project. The proposal serves as a commitment to what will be executed if the contract is awarded, balancing self-promotion with clear scope, timeline, and budget commitments. Investing time in creating a proposal template upfront allows for quick iterations as needed.