A project proposal is a document that defines a proposed project, its aim, outcomes, and the procedures

that will be followed to achieve it. Unlike a project contract, which is a written agreement between two
parties to accomplish a project, a project proposal communicates how a company, team, or individual
intends to handle a project. During the conference, I also learned about the Six Basic Elements of a
Project Proposal, which include the summary, project background, solution approach, financial
information, additional documents, and conclusion. I also learned that while presenting a project
proposal you must first explain the problem, then propose a solution, define the path you will take, and
persuade your audience that you or your team are the best individuals for the job. On the other hand, a
business proposal, in my opinion, is focused at enticing potential customers to a company's products. It's
a document, either digital or printed, that explains product or service aspects while taking the lead's
needs and desires into account. In other words, business proposals demonstrate how a company can
assist a customer in resolving a certain issue. In that video, I learned seven steps to starting a business,
including analyzing the industry and understanding the requirements and demands of the people. The
executive summary follows market analysis, marketing sales, management, product and services,
financial projections, and the company name.