- Check for relevance: Focus on your company's technical strategy
- Refine your idea: Write, Re-write, Re-write again
- Determine your project costs: ROI is key
- Find the relevant markets: More demand means more interest
- Write to the funding source's guidelines: Stay within the lines while painting vivid pictures
Follow these principles to increase your odds of proposal success. Let's start with making sure that your idea aligns with your company's technical strategy and why you should do this.
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| Write a concise project proposal to show your idea's relevance to your company |
Check for relevance: Focus on your company's technical strategy
If you want to sell your idea to leadership, make sure that it aligns with your company's technology strategy. Companies typically publish their strategies internally on their Intranet. It might take some digging to find it. You might need to speak to people in the Business Development department. My point is this: You must know your company's technology road-map and where your idea fits. If your company develops autonomous cars, for example, an algorithm to improve its ability to cooperate with non-autonomous cars would be beneficial to your company. An algorithm for self-regulating temperatures in people's house would not.
At a high level, companies exist to make money. Explore this concept deeper, and you will find that companies have missions and values. Missions explain why companies exist: make the world a better place, make roads safer, help people live healthy lives, and so forth. Values set the boundaries on how companies will go about fulfilling their missions. Your idea must help your company achieve their mission. Simply put, the technology strategy explains how they will do this. You can find advice on developing strategies, yet you need not worry about that. Your ideas represent tactics -- ways that you help your company execute their strategy.
Refine your idea: Write, Re-write, Re-write again
I've been told that the first draft of anything sucks. On a side note, the quote "the first draft of anything is shit" is often attributed to Ernest Hemingway. However, it could be attributed to Anne Lamott who authored Bird by Bird. When writing, I live by the mantra Fast, Bad, and wRong or FBR. (For more details on FBR, see the "Fast, Bad And Wrong: A Mantra For Creating The New And Impossible.") The ideas here are not that you suck as a writer. It's that first drafts represents your opportunities write all of your technical thoughts down on paper. You want to do it FBR, so you do not lose your thoughts. Write down your thoughts fast, so you document them. Do it bad, so you don't pause and reconsider what you write down. Do it wRong because you will revise your proposal multiple times to get it right. This does not mean that you should write your first draft in one sitting. No, if you need to take a break, take a break. However, when you sit down and write, make sure that you focus on writing your proposalRemember your company's technology strategy? When you revise your first draft into your second draft, refer to the strategy. If you documented technical ideas that do not align with the strategy, remove them or put them in a future works section. When I write first drafts, I use a "more is better" strategy with FBR because I want to cover my bases. However, I know that I will not need all this material. You can delete text. It's OK.
Tip: Learn concise writing, or try not to express your idea with a plethora of beefy wordy excessive words
When you revise, say what you want to say with as few words as possible. In other words, keep it short and simple. Although teachers expressed this idea to me from an early age, I find guilt in not following this advise. You probably do this too. Why do people write lengthy papers? Perhaps they trained to a "grade by thickness" mentality in college / university. Perhaps they think the more they write, the more important their writing becomes. Unfortunately, the audience gets lost in discursive statements that drone on and one. In fact, they probably don't read it. Why do you think proposals have abstracts and executive summaries? Rhetorical question.When you edit your draft, you should cut excessive verbiage. Take my sub-header for example. Instead of writing, "try not to express your idea with a plethora of beefy wordy excessive words," I could have written "express your idea with a minimum number of words." It's straight to the point, and you don't fall asleep when reading it. I find it vague, yet I could revise it further to say something like "express your idea briefly yet comprehensively."
Tip: Have someone else review your proposal draft
We are all blind to our own mistakes. You should have someone else review your revised proposal draft. At this stage, it would be inappropriate for you to have a member of your company's hypothetically names Innovative Technology Research and Development Board review your proposal. However, if you know a fellow engineer or technologist who interfaces with that group, you have ask them to review it. You could ask your manager or another manager to review as well. Better yet, find someone who successfully submitted a proposal to this group. That person would know what works and what didn't. Offer to meet with them over coffee or lunch, pay for them, and have a list of questions prepared. Take notes during your conversation, and thank them both in person and via email for their timeDetermine how much your project costs: ROI is key
To sell your idea, you need to show it has a reasonable return on investment (ROI). To show ROI, you must figure out how much it costs to implement your project. This serves as your baseline to prove that the company will earn a long-term profit if management funds you. You can break costs down into one of several categories:- Engineering / software development labor costs
- Manufacturing costs including tools and labor
- Fringe benefits
- Hardware procurement
- Software procurement / licenses
- Training and education
Even if you develop software as your proposed project, you will need to buy hardware. For example, if you decide to develop a cutting edge Deep Learning / Artificial Intelligence software application, you will need a machine with Graphic Processing Units (GPUs) to handle the processing you need. Your standard word-processing and Excel laptop for day to day work will not cut it. GPU powered computers are not cheap, and you will need to factor that into your proposal cost.
What are fringe benefits? Think of them as cost of money involved with bringing people onto your project. Suppose you staff your project with a senior engineer having an hourly salary of $50 / hour. You will need to factor in costs for that engineer's benefits including health insurance. With fringe benefits, this could easily become well over $100 / hour. This becomes important because your company's Internal Research and Development Program (IRAD) already considers fringe benefits in employee hourly rates, so your budget will retract if you do not include it in your budget. Imagine you budgeted that senior engineer for 100 hours at $50 / hour. With that budget inconsistency with the true rate, you will get no more than 50 hours for that engineer. Your project could fail with half of that person's time. Include the fringe benefits in your labor estimates.
How do you calculate ROI? Once you know your costs, you can calculate the return using one of several measures. The measure you use will depend on what you intend to accomplish:
- Process improvement: Number labor hours saved multiplied by hourly rate(s)
- New product: Number of units sold
- Product upgrade: increase in sales, cost savings to customer
Remember, these figures are estimates. You perform your own analysis to derive both your costs and returns. How do you effectively calculate such numbers? Much of this comes from experience. As you gain engineering experience, you develop a sense for how much time and effort projects take to completion. Granted, you might feel uncomfortable in calculating sales estimates. In that case, find a coworker who successfully submitted project proposals, and request their help.
Tip: Have your coworker review your ROI figures
Every person is blind to their own mistakes. When you have your coworker review your proposal draft, request they review your ROI estimates. They could find something you missed in your calculations, or they could tell you that your sales estimates are way off base. The IRAD program review staff will review your numbers, so you want them to be accurate. If you know a coworker who serves as the liaison to that program, seek their advice before your submit your proposal. They will know what kinds of proposals get accepted, and which proposals get thrown into the trash bin.
Find the relevant markets: More demand means more interest
When you calculated your project's ROI, you might have calculated how much sales would increase. Although many companies have lofty values and mission statements, remember that leadership wants to show profits. You show profits by convincing them that your idea generates market demand. How do you show that your project increases market demand? You must talk to people. Discuss your idea with coworkers, managers, current customers, and potential customers. Figure out what they need. According to Josh Wolfe on The Knowledge Project, "ask yourself: 'What Sucks?' Almost everything that we use, almost everything that was ever invented, started with somebody saying, ‘Huh, that sucks. I’ve got a better idea.’” Go out and ask people what they think sucks in their lives, and you can figure out how your idea can make their lives better.If you consider yourself an introvert, you should learn to behave like extroverts. Challenge yourself to speak to strangers. Seriously, you must learn to sell your idea. You will have time to develop your project on a bench by yourself later. This is the time for you to reach out for support. Yes, you can figure out market demand by doing Internet searches. However, companies rarely publish the best known information online. If you do not work in customer relations, find people who work in business development. Send them introductory emails and request 30 to 60 minutes of their time to discuss your idea in person. You will learn much from these conversations including uses for your project. What's the worst that can happen? You can learn that your idea has no relevance, or someone has already done it. If this happens, consider it an opportunity to move on to a better idea.
Does the market have to be external? No. You could apply your project to other business areas within your companies. This rings true if your idea focuses on process improvements. For example, if you propose to use Artificial Intelligence and machine vision to improve yields in smart phone processing board manufacturing, your company's television division could use that idea to improve yields in their television production lines. What if your company's divisions have different customer groups? If you prove value to both groups, you increase likelihood that your leadership approves your project.
Tip: Develop your professional network well before you develop your project proposal
You might notice a common thread in proving market value: You need to speak to people. To make this easier, develop your professional network. When people know you personally, they show more willingness to help you. If you have opportunities to attend conferences whether internal to your company or not, attend them! If you can present on a project, by all means, present it. Whatever you do, DO NOT miss out on the networking opportunities that conferences represent. Speak to people, find out what interests them, hand out your business cards, and get their contact information. You never know when you will need their assistance. The person you chat with at a conference could be a potential customer, an insider to a potential funding source, or someone who can mentor or coach you when you develop your project proposals. Get out there and make yourself known!Write to the funding source's guidelines: Stay within the lines while painting vivid pictures
Look, you should respect the review board's time. This means that you write your final proposal draft according to their guidelines. If they request a one page summary, provide them with a one page summary. Yes, you will develop far more than a page while you develop your project. That's great because you can save that information for when they ask you for more information. Do not provide them with information they do not request because (a) they will either not read it, or (b) they will be annoyed that you make them spend more time reading irrelevant text.Of course, project proposal guidelines can have more than page limits. The review board can request you provide the following in your proposal summary:
- Summary of project
- Project implementation plan
- Project timeline
- Project costs
- Source materials including any prior work (i.e., patents)
- Any products your proposal supports
- Relevance to other business units
- Sales or ROI estimates
You will not need to provide all of the information I listed above in your proposal. It depends on your company's internal processes and the funding source. It will take time for you to provide this information, yet you should compile this information when you edit your proposal drafts. You should provide this information concisely. (See my tip on concise writing.) If the internal IRAD group has an internal website for you to submit proposals, make sure you save your inputs in local documents. It sucks when you write text in an online form only to lose it to a system glitch.
Tip: Prepare to present your project proposal
Keep extra material saved in separate documents, so you can incorporate them into a project briefing proposal. You can delve deeper into your proposal when you present it to the proposal board. However, you need to stay within their guidelines here as well. This means using the company presentation format and staying within a predetermined time limit. The more prepared you are, the more likely you will impress the proposal board. You want to convince them that you canSummary
In this post, I discuss five principles that you can use to successfully write an internal business proposal for your engineering project idea. Engineers enjoy working on cool projects. Imagine developing a matter transporter used in Star Trek or a light Saber used by Jedi knights. We love turning science fiction into science reality. Unfortunately, engineers often work in business environments where they must prove their idea's worth before leadership will grant funds for developing these projects. The five principles discussed include focusing on your company's technical strategy, refining your proposal idea, determining project costs and ROI, finding relevant markets to sell your product, and writing your proposal to the funding source's guidelines.Not all ideas are created equal, nor are the best ideas guaranteed to receive funding. By following these principles, however, you will increase your proposal's acceptance chances. These principles allow you to develop your idea to your audience's needs.
Do you want to learn more about engineering, career advancement, and leadership? Please read my prior posts on this subject:
- Definitive Guide on Boosting Careers: How to Find Stretch Assignments
- Accelerate your career through stretch assignments
- How to Market Yourself for Larger Paychecks and Promotions
- How to Evolve Your Stagnant Career towards Exciting Fields in STEM
- How to Turn Cynicism into Positive Action
- Sometimes leadership means cleaning up the mess you created
- Learn from your mistakes to build on your experiences
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