Cost Proposal

Finally, once the technical proposal has been completed, you need to draft the Cost Proposal.

The Cost Proposal, also referred to as the budget, describes in detail the estimated cost of implementing the project. It is critical that your organization base the budget on what has been written in the technical proposal. The figures in the Cost Proposal must align with the activities described in the technical approach and workplan. That is to say, every item in the budget should be accounted for in the technical proposal.

Budget Notes outline how your organization determined each of the costs that appear in the budget. Budget Notes can include vendor quotes, government per diem rates, travel quotes, salary projections and calculations for holiday, sick and vacation, as well as overhead rates. Even if a solicitation does not request Budget Notes, it is a good idea for you to document where they obtained the cost information.