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A project proposal, also known as a business proposal, outlines the approach to meet specific project requirements and constraints. It serves as a first impression for potential clients, allowing you to showcase your team's capabilities and position yourself as the best fit for the project. The proposal is a written commitment detailing the execution plan if awarded the contract, balancing self-promotion with clear commitments to scope, timeline, and budget. Tailoring a proposal template to your needs can streamline the process for future iterations.