A business proposal

The progress report indicates the current status of work. It includes charts and graphs to compare the extent of work that should have been finished till a certain point in time to meet the deadline established in the start of the project with the extent of work that has actually been executed on the site till that point in time.
The project I am in charge of is just in the beginning stages. The team has assessed the potential risks and opportunities associated with the execution of the project. The feasibility study has been completed. Currently, the team is preparing the conceptual design of the project. We are reviewing the performance of big contractor companies on the recent projects to select the one we would like to contract with.
A business proposal is a kind of business plan when the business is in the conceptual stage. The scope of work, the resources and other business essentials have not yet been finalized. On the other hand, a business plan is the actual plan of business once everything has been finalized. It has scenario details and is usually made for a period of five years.