Project proposal is a detailed explanation of series of activities which are aimed at solving some problem. Project proposal is a systematic approach with proper flow of points needs to be covered. Project proposal consists of detailed presentation of what is the project about, project goals, objectives and methodologies that is how the project is going to be carried out. It should have a problem statement. It should contain a vision needs to tie the project with long term goals, benefits should be included like cost cuttings and new capabilities. Project proposal should have deliverables such as what the customers expects from the product example, a wrist watch their benefits how the watch has better features. There should be success criteria in the project proposal such as specific, achievable, measurable, time bound, realistic. There should be deadline that when the project is going to get completed. There should be a funding plans for the project proposal.

The way that I think about a project proposal document is that it is a formal way of persuading the leaders of your company, such as CEOs, managers, and stakeholders, that your project is worth investing in and that it's the better or best option out of all their choices. The project proposal document introduces the specific problem that you are trying to solve and how you are going to solve it. Besides the problem, the document is also meant to address any concerns or risks associated with your project because failure and loss is something that they will not accept. There are a lot of different pieces of information that must be included in the document such as: the budget, the timeline, the required employees or stakeholders, the responsibilities and roles of each individual involved, and the deliverables. Not only does the document address your questions, but it will help address questions that may arise later on while you are doing the project. One question that I do have is: should there be historical data that should be used in the argument that you make regarding the problem? Is it sufficient to use data on the extant nature of the issue, like reporting on how much the company or business is losing because of the issue?

Writing a successful project proposal can be very tedious. This is because, you have to deliver something that might seem ingenious to you to others and have them see the same thing you see. To do so, I believe you should break up your proposal to six parts: summary, history, requirements, solution, and authorization, appendix. The executive summary is your elevator pitch. It portrays that ingenious idea in the way you want the reader to see. The history portion of your paper should talk about the idea behind the project, what obstacle is it going to solve, and context of your idea. The requirements section should describe your project in great detail and how that relates back to the problem its trying to solve. The solution section should explain the plan to solve the problem. The authorization section should list individuals or organizations that have authorization throughout the project. The appendix includes all your supporting documentation. If you divide your paper in these sections and you write each section thoroughly, you will have a clear and powerful paper that will be successful.

I believe that a good project proposal should include the market gap which you are trying to target with your product. Today's technology develops incredibly fast, and because of this, there is a device to meet almost any need. However, just because a device exists it does not mean that it fills an entire market, therefore, it is important to find the market gap. For example, electric toothbrushes exist, however, does an electric toothbrush that is under 200$ which can also work in outer space exist? This is obviously an exaggerated example to get my point across, but it clearly shows the idea of a market gap. When proposing a project to investors, you want to make sure that they see the potential for profit. Hence why the market gap is important for any project proposal.