How to Write a Budget Proposal
It is important to be well informed on how to write a budget proposal if you would like to get funding for a certain project that you are working on. Keep in mind that decision makers who know what is a budget are keen on sound logic coupled up with good return on investment. To increase chances of approval, the proposal needs to feature detailed explanations of the costs of the project as well as the benefits that it will bring about. The proposal does not have to be long but your main aim should be to offer sufficient details so that the person (s) reading it can understand the scope of the entire project and how it may be beneficial to him or his company at the end of the say. Some of the tips you can work with to come up with a great proposal include:
The proposal needs to have a well written executive summary that highlights the most important aspects of the budgeting process. All these vital details should be on a single page and it should be done in such a way that it draws in the person who is reading it to react in a positive manner. It should include the total cost of the project and a bullet list of the benefits that will be gained by implementing the particular project.
Prepare a work sheet
The budget proposal should also have a work sheet that includes a list of all the expenses including things such as support hours that are needed by the employees who will be working on the project, all the equipment that will be needed not forgetting any promotional or marketing funds that will be needed to complete the project. This helps the readers to know exactly how their money will be spent while implementing the project.
Plan of action
Right after the worksheet, you need to insert a plan of action in the proposal. This shows exactly how the project will be implemented. This is the part of the budgeting process where the expenses, support costs and hours are accounted for. This also showcases a timeline on how the project is going to be established. The timeline should include vital information such as opportunities to analyze and review the success of the project as it goes on. This should also have the deadline when you expect the project to be completed.
After you are done with the budget analysis, the proposal needs a conclusion. This should be prepared in such a way that it points out the repercussions of failing to go ahead with the project. This should be done in a creative and convincing manner so that it acts as a deal closer where the reader is supposed to make an informed decision in the positive manner. This is why you need to come up with a strong argument that fully supports the project. This can go something like it will be a necessity when it comes to the growth and well being of the company/business for a number of valid reasons.
Click here to download a budget proposal sample in Word.
Try this book on Proposal Planning & Writing.