Fill out or assist OSP to complete the applicable budget template. 4. Fill out or assist OSP with Sponsor budget.The budget narrative serves two purposes: it explains how the costs were estimated, and it justifies the need for the cost. No interpretation of the meaning of the Bid Documents (drawings, specifications, et. Al.) will be made to any bidder. This section will guide you through the process of initiating a proposal, budget preparation, and coordinating with partners and UVU offices. To facilitate budget development, UM's Cost Estimation Tool is provided below. A construction proposal is a document used to provide a client with a clear understanding of a project's details.