How To

How to Write a Project Proposal

A project proposal is simply a document which covers every details right from the big ones to the small ones that stakeholders needs to know about the  project.

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These details includes the timeline or time frame for the project i.e. when you intend to start and when the project is scheduled to end, the objectives of the project, the goals, mission and vision of the project. All these things are very important and as such, they go a long way in determining so much about your proposal.

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It’s just like the skeleton that describes the plan and motives of your proposal, more like a building block that stakeholders would see to determine their decisions as well as the fate of the project.

It defines everything about your project from the initial stage down to the proposed complete stage. 

Writing a business proposal is important. However, note that you do not need to write just projects proposals but projects proposals that would convince stakeholders to buy your idea.

Why Should You Write a Project proposal?

Your project proposal is what you present to your stakeholders. They do not have the full knowledge of what you want to do neither do they know why they should believe you or invest in you.

A good business proposal will help you speak to stakeholders as well as convince them to want to work with you.

A poorly constructed proposal would do the contrary of what you want. It will end up passing the wrong message. For instance, not having a planned time for when you want to start or end your project. 

Stakeholders will see you as unserious and one without a plan. No one would want to waste his money.

Even Jeff Bezos would not invest in just any business which is not near certainty of ever producing or yielding a profit, therefore a good project proposal will help you explain to your investors on your true intentions.

Always remember, the success of a proposal and winning the heart of investors solely depends on how well you construct your proposal as your proposal speaks volume.

 In other words, your project success depend on how well planned it is.

Purposes Of A Proposal Plan

A proposal plan has three main purposes viz:

1.To Facilitate Involvement Of Stakeholders Or Investors

As earlier stated, if you want businessmen or stakeholders to invest in your project, you can use a good proposal to your advantage.

2.Keep You On Track

Your project proposal helps to keep you on track. It helps you to remind you of when you intend to do something.

 It helps you strategize growth. When you set deadline for yourself, you would be constantly aware that you have a time limit.

3. Estimate Total Cost

Even if you might not get the exact figure, a business proposal which has everything pertaining to your project would be able to estimate your cost and how much your project will cost.

From the points mentioned above, it is crystal clear that having a project proposal is not only useful to your stakeholders but also to you.

How to Write a Project Proposal

What Should Be In Your Project Proposal?

After realizing the importance of a business proposal, the next thing should be how to write a business proposal.

This section covers the important things that should be listed in your project proposal.

1.The Introduction

Now, this part should be captivating and enticing. What does your introduction mean?

It simply means a brief summarization of what they should expect in your proposal. 

This is the key part that begins to determine the success of your project and how well it would be accepted.

2.Problem And Possible Solution

At this point, you have your reader’s full attention. They would want to see what you have in mind.

They would be in suspense of what you have to offer. Do not keep them in suspense, just tell them what they want. 

Make the problem known and give the possible solution you intend to propose to it. 

Try to make this as short as possible and be brief. Do not bore your readers with lengthy letters.

3.Steps To Solve The problem

Stating the problem as well as solution alone is not enough. You also need to state how you propose to solve the problem.

It should cover all the important steps and how you intend to implement these steps to solve the problem.

Also these step should include how the progress of your project will be recorded so as to keep your investors’ informed.

4.Ask For Their Involvement Financially

After stating your points as listed below, the next part is to ask for their involvement i.e. sourcing for resources.

At this stage, you need to know how to ask your readers for financial support.

Do not go by saying “I hope I have been able to convince you, I need your money!” or ‘I need your financial support!’ or anything like that. 

No one would be willing to support you if you requests for fund in that way. 

To request for fund, you need to politely state your reason for needing the funds. In addition, you need to state your estimated budget for each plan or step in fulfillment of your project. 

Note, do not just write the steps, you need to have a budget so your potential investors should know the amount to have in mind to support you.

Ensure to do your research so you do not end up on the losing side and also so as not to look fraudulent when your investors find out about the price elsewhere.

Also, do not assume. We can’t just stress this enough, MAKE QUALITY RESEARCH. If you make assumptions, the price can increase anytime and this will NOT favor you.

5.Authorization 

Mention those important stakeholders that are essential and important and also contribute largely to the approval process. 

Also, do not forget to include all stakeholders and team members that has a major role to play in the success of the project as well as the timeline for approval.

6.Conclusion

After the details you have listed, you would not want to end your proposal on a poor note.

 Try to make your conclusion as enticing as the beginning part was. Do not be quick to rush your work and end up with nonsense. 

7.Appendix

A lot of research combined with information would be needed in your proposal. 

Do not forget your proposal should be as brief and concise as possible hence you do not need to include all information in the main part of your proposal but instead, reference to the information in your post and your appendix hold the full details of your information; including where you got it from.

Conclusion

When writing a project proposal, try to take your time. Do not be in so much a rush so you do not end up with contents that are not worth it. 

Also, make it short. Do not make the contents of your proposal too long as investors are usually busy and if they are not, majority of people do not like lengthy articles.

 Do not scare your potential investors off with over lengthy proposals.

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