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A project proposal, sometimes referred to as a business proposal, outlines the approach needed to fulfill specific project requirements and constraints. It represents your team's initial contact with a potential client, emphasizing your qualifications and fit for the project. The proposal serves as a written commitment detailing what you will deliver if selected for the contract, balancing self-promotion with clear commitments to scope, timeline, and budget. While each proposal may vary, spending time upfront on a template can facilitate quicker iterations for future requests. The video tutorial outlines seven steps for creating effective project proposals.