1. Project Proposal
ELEC 421
The initial document that converts an idea into details of a potential project, including the outcomes, outputs, major risks, costs, stakeholders and an estimate of the resources (time and money) required.

2. Goal of the Formal Project Proposal
Convince your audience that
The project has value, and
You can complete it successfully and on time

3. Components of the Proposal
Executive Summary
Introduction
Problem Statement
Objectives
Methods
Schedule
Resources/Budget/Cost-Benefit Analysis
Qualifications

4. Executive Summary One page
Introductory statement
Risk summary
Competitive summary
Financial summary
Qualifications summary
Sell the favored approach, if you discussed alternatives.
Think of this as the only page the big boss (decision maker) will read! It likely will be.

5. Introduction What is the proposal about A brief description
One or two paragraphs
Save the details for later

6. Problem Statement
What is the problem or gap that this project addresses?
Projects don't come out of nothing. They arise from need, a problem that must be solved.
Describe the problem situation.
Convince the audience that the problem is important and therefore deserves to be addressed.
Expose what you know about competitor’s products. Be able to address competition in the “Objectives” sections.
Remember that the competition will continue to enhance their products as well.

7. Objectives Be specific Speak in tangibles Use a list if appropriate.
What is the result(s) of the project?
Let the audience know what outcomes to expect.
Be specific
Speak in tangibles
Use a list if appropriate.

8. Method How will you achieve the goals and objectives?
Describe needed research, if any.
What else will you do to produce results.
Make sure the audience knows two things.
You have an effective means of achieving results.
You fully understand how to manage the project.

9. Resources, Schedule and Budget
Time and Money?
Calendar time.
Personnel, equipment, supplies and support.
Include a schedule and budget.
Again demonstrates complete understanding of the task.

10. Qualifications, Cost/Benefit Analysis
Can you and your team be successful
Complete the project on time?
Complete the project within budget?
Complete the project at all?
Resumes are appropriate.
Do the benefits of the project outweigh the costs?
A thorough financial analysis could swing the decision.

11. Project Proposal Outline (Use It!)
Executive Summary
Introduction/Background/Need and Fit
Purpose, goals, and measurable objectives
Problem addressed by the proposal
Competitive products/ current state of the art
Plan of Approach (Method)
Design concept
Alternate approaches
Development phases
Outcomes/anticipated results/assessment plan/handling contingencies
Resources needed to complete the project
Personnel/Summary qualifications/Assignments
Schedule/Project Timeline
Budget
Development costs
Product Cost
Summary
Sell and recommend best approach, restate the cost vs. benefit of the project
Supporting Materials/Appendices
Project Specifications, Resumes, Competition Rules, etc.