The Project Proposal is a document that presents a rationale and plan of action to stakeholders with the power to authorise the project.
The Project Proposal is proposed to the Project Sponsor (Client or party responsible for funding the project) and any other parties that may be required to approve resources to distribute in the project. At a minimum, the Project Proposal should include:
- Project Aims is proposal needs to clearly definition of the aims of the project
- The Project Problem outlines the problems and/or needs the project will solve to be considered successful
- Alignment with Corporate Strategy examines of how closely the project aligns with the organisation’s goals and objectives
- Business Benefits [Cost-Benefit Analysis] This is an appraisal of the project’s economic benefits against the costs associated with the project over time
- Estimate resource requirements estimates the project cost centres, including project staff, preliminaries, materials, plant and labour
- Potential project risks includes list of potential risks associated with undertaking the project