Project Proposal Writing: How To Write A Winning Project Proposal

Summary

In this informative video, Devon Dean from ProjectManager.com emphasizes the critical role of personal interaction in selling a project through a proposal. He advises that a well-crafted proposal must be supported by active lobbying to decision-makers, highlighting the project's alignment with the company's strategy and its tangible benefits. The video outlines key components of a project proposal, including a compelling problem statement, vision, benefits, deliverables, success criteria, project plan, and budget. Dean stresses the importance of an executive summary for decision-makers and the need for a cohesive narrative that demonstrates the project's value and feasibility.

Takeaways

• 🤝 People buy from people - Personal interaction is crucial for selling a project proposal.
• 📄 Project proposals should not be solely relied upon for funding; active lobbying is necessary.
• 🎯 Tailor the proposal to resonate with decision makers by understanding their concerns and needs.
• 💡 Highlight specific missed opportunities or incurred costs that the project could have prevented or gained.
• 🚫 Avoid generic benefits; focus on tangible, measurable outcomes that align with the organization's strategy.
• 📈 Clearly articulate the project's alignment with the company's long-range strategy and goals.
• 🌟 Detail the project's benefits, ensuring they are specific and measurable to build confidence in its success.
• 🛠️ Describe the deliverables and how they will be provided, including any new capabilities or avoided costs.
• 📊 Establish SMART success criteria to provide a clear benchmark for the project's success.
• 🗓️ Outline the project plan, including deadlines, resources (internal or external), and delivery approach (agile or traditional).
• 💰 Present a clear funding plan and budget, demonstrating the value proposition of the project.

Q & A

What is the primary focus of the video?

The primary focus of the video is to teach how to effectively sell a project using a project proposal and the importance of personal interaction with decision makers in addition to the proposal document.

Why is it crucial to interact with decision makers while preparing a project proposal?

Interacting with decision makers is crucial because it helps refine the understanding of the organization's problems and benefits that the project can provide, which can resonate with the decision makers and increase the chances of the project getting funded.

How does the first impression of the project proposal impact the decision-making process?

The first impression is critical because decision makers often make up their minds within the first few minutes of reviewing the proposal. A strong impact at the beginning can significantly influence their decision to fund or reject the project.

What should be included in the problem statement section of the proposal?

The problem statement should paint a clear picture of the organization's issues, highlighting specific examples where opportunities were missed or risks/costs were incurred that the project could have prevented or mitigated.

How does the vision statement benefit the project proposal?

The vision statement ties the project to the company's long-term strategy and goals, ensuring that the project is seen as aligned with the organization's direction and reducing the risk of it being perceived as a rogue project.

What should be the characteristics of the benefits mentioned in the proposal?

The benefits should be specific, measurable, and directly related to the project's deliverables. They should clearly outline the new capabilities or avoided costs that will result from the project's successful completion.

Why is detailing the project's deliverables important?

Detailing the deliverables helps stakeholders understand what tangible outputs they can expect from the project, which can include software, hardware, or process improvements, and how these will be implemented.

What are SMART success criteria?

SMART success criteria are Specific, Measurable, Achievable, Realistic, and Time-bound. They provide clear benchmarks for determining the project's success and give decision makers confidence in the project's outcomes.

How should the project plan and approach to delivery be outlined in the proposal?

The project plan should include deadlines, a clear strategy for meeting the success criteria and deliverables, and details on whether external vendors or internal staff will be used. It should also specify the methodology, such as agile or traditional waterfall, for project delivery.

What is the role of the cost and budget section in the proposal?

The cost and budget section presents the funding plan, showing how the project will meet its deadlines and deliverables within the allocated budget, and demonstrating the value proposition in monetary terms.

Why is an executive summary necessary in a project proposal?

An executive summary is necessary to concisely communicate the high-level problem, vision, and benefits of the project. It helps decision makers quickly grasp the key points, especially since they may only spend a few minutes reviewing the proposal.

How should the project proposal be structured to effectively communicate its objectives?

The project proposal should be structured like a story, with a logical flow from problem identification to cost and benefits. It should introduce key themes at the beginning and expand upon them throughout the document without introducing new topics, ensuring a cohesive and persuasive narrative.