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A project proposal, also known as a business proposal, outlines the approach to fulfill specific project requirements and constraints. It serves as an introduction to potential clients, highlighting your team's capabilities and suitability for the project. The proposal acts as a written commitment detailing your planned execution upon winning the contract, balancing self-promotion with clear commitments regarding scope, timeline, and budget. Tailoring your document for each situation is essential, and investing time in a proposal template will facilitate rapid adaptations for future requests. The video suggests seven specific strategies for effective proposals.