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A project proposal, also known as a business or work proposal, outlines the approach to deliver a solution that fulfills specific project requirements and constraints. It serves as an opportunity to showcase your team's capabilities and why you are the best fit for the project. Functionally, it acts as a written commitment detailing what will be executed if awarded the contract. The proposal should effectively balance self-promotion with clear commitments to scope, timeline, and budget. Tailoring a proposal template can streamline the process of creating proposals for various requests. The text mentions that there are seven steps to consider in crafting an effective proposal.