Proposal

To propose, make an offer. A proposal is a written document developed by an individual or a group for presentation to an outside organization. Ideas for possible research or services are put forward to agencies/sponsors for their review and consideration. If the ideas proposed to the agency/sponsor are favorable to both parties involved, an award agreement would be initiated granting the researcher a designated dollar amount for use in their outlined mission.
Alternate:  A formal written document provinding detailed information to a potential sponsor on the technical and business aspect of a proposed project.  A proposal may be unsolicitated or in response to a specific funding announcement.  the successful outcome of a proposal will result in an award to the institution.