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A person standing looking confused. Four arrows point to the person, each marked with a title. The titles are 'Cost Proposal #1', 'Cost Proposal #2', 'Cost Proposal #3', and 'Cost Proposal #4.'

When developing your budget, it is a good idea to first solicit cost proposals from several evaluators. Cost proposals require that each bidder describe in detail the tasks to be completed, the number of hours each task will take, and the costs associated with each, including labor. You should receive several bids that are approximately the same. If you receive bids that are very different from the rest, you can assume bidders either under- or overestimated the cost of the work. Also, be sure that the cost proposals realistically address all potential costs, as your evaluation can be quickly derailed when necessary expenditures start to go over budget.

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