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A project proposal is a document that outlines the approach to solving a project's requirements and constraints. It serves as a first impression for potential clients and should showcase your team's qualifications and why you're the best fit for the project. It is a commitment to what will be executed if the contract is won, balancing self-promotion with clear commitments to scope, timeline, and budget. Creating a proposal template upfront can streamline the process of creating iterations quickly as needed.