Project proposals are a must for businesses that rely on clients and partners to generate revenue and sales. A polished and professional project proposal is one of the best ways to showcase your team’s capabilities, products, and services.
But a good project proposal is more than just a timeline and a budget. Adding embellishments like tables, graphs, or other visuals can help you elevate a boring proposal to the top and stand out from the rest.
Learn how to create a successful project proposal and check out the various project proposal templates you can customize using Venngage.
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It's important to keep in mind that project proposals are not the same as business proposals , even though they have some similarities. One of the big differences is that business proposals tend to be more general and lengthy. Learn more about how to write a great business proposal .
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What are the 6 types of project proposals?
Because every project is unique, there are different types of project proposals, but these are the most common:
Requested via RFP
RFP stands for Request for Proposal (may also be called Request for Quotation, or RFQ).
These types of project proposals usually have more stringent requirements and obligations. The contracting company usually lists the elements that must be included in the RFP, as well as any limitations or conditions that apply.
From the vendor's perspective, being asked for a proposal is usually a good sign, as it means that your company (or you, if you're an individual) has made it through the initial round of vetting by the contracting party.
Informally requested
Informal requested project proposals are similar to RFPs or formally requested proposals in that they may have many requirements, but because they are outside of the formal RFP process, the requirements are often not stated up front. This may mean that the vendor must do more research and ask more questions of the contracting party, or that there really aren't that many requirements.
Another advantage of submitting an informally requested project proposal is that the absence of a formal process may mean that the vendor will have less competition.
Unsolicited
Also referred to as (speculative) proposals, unsolicited project proposals come from the supplier rather than the contractor.
These proposals are especially difficult because the hiring party, List of Denmark Consumer Email well, may not be hiring at all. With a specific or unsolicited project proposal, the vendor believes there is a need for their services and must not only convince the hiring party that the need exists, but also that they are the best person to fill that need.
Pre-proposals
Pre-proposals can be thought of as shortened versions of RFPs. They are often requested by a contracting party who wants to avoid a lengthy proposal process (or simply doesn't want to read a long pitch). These types of proposals are short, usually a few pages at most, and depending on the results, the contracting party may either make an offer or submit a full RFP request.
Non-Compete/Continuation Proposals
Continuation proposals are common in multi-year projects or those where both parties have agreed to certain conditions governing the development of the project.
When submitting a follow-up proposal, the goal is not to present your services, but rather to keep the client up to date on the project, inform them of any information they need to know or that is part of the scope of work, so that you can obtain their formal approval to proceed with the project.
Competition/renewal proposals
Renewal proposals are similar to continuation proposals, but instead of being created in the middle of a project, a renewal project proposal is generated once the project or contract ends. They are also called competitive proposals because the vendor will have to make a case for why the project or contract should be renewed.
It may be prudent to approach this type of proposal as if it were an unsolicited one, but the benefit to the vendor is that (if the project has been a success), they will have a way to show previous results to that specific client in their new proposal.
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What does a project proposal contain?
The content of project proposals varies depending on the industry and type of proposal. For example, while solicited, unsolicited, and pre-proposal proposals typically include a negotiable budget, the budget for a follow-on proposal is likely already set. That said, here's a look at the typical content of a project proposal:
Summary : An executive or project background summary is typically the first section of a project proposal. Most vendors use it as an opportunity to thank the contracting company for the opportunity, as well as to summarize what the client is going to see in the rest of the proposal.
