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A project proposal, also known as a business or work proposal, outlines the approach to fulfill specific project requirements and constraints. It’s often the initial communication a prospective client has with your team, providing an opportunity to showcase your qualifications and why you’re the ideal candidate for the project. The proposal serves as a written commitment detailing what you plan to execute upon winning the contract, balancing self-promotion with clear commitments regarding scope, timeline, and budget. Customizing a proposal template can streamline the process for future requests. The video also introduces seven steps essential for creating an effective project proposal.