Choose one problem from the following problems of Richmond Elevator and make a Project ProposalThe following are the problems being faced by Richmond Elevator in $2018\mathrm{.}1.$ A loss of # $150$ Million in sales last year$\mathrm{.}2.$ An additional operational cost of $ $70$ Million every year in the last two years$\mathrm{.}3.$ An annual turnover rate of $15\%$ in the rank$-$and$-$file position and $30\%$ in themanagerial position$\mathrm{.}4.$ Need for new equipment and machines which will increase production by $25\%\mathrm{.}5.$ Poor database system$\mathrm{.}6.$ Competitors have new technology and increasing their sales by at least $8\%\mathrm{.}7.$ Increasing injuries in the production floor$\mathrm{.}8.$ Bullying in the workplace$9.$ Outsourcing transportation and delivery of products$\mathrm{.}10.$ Increasing number of defective products$11.$ Moving to a new plant site$12.$ Changing organizational structure$13.$ Idle social media presence$\mathrm{.}14.$ Barely satisfactory compliance of WorkSafeBC work safety requirements$\mathrm{.}15.$ High utilization of product warranty by all customers warranty cost is $130\%$ forevery unit sold.I. Executive SummaryThe executive summary provides a summary of the proposal and highlights the mainaspects of the proposal. If some information seems repetitive, remember that businessreports are not always read in the order written.II$.$ Title PageWrite a title that clearly and accurately describes your proposal. Include the name ofthe organization the proposal is for, the RPF number and the date. The title page should alsohave the name of the author$($s$)$ and the authors organization.III. Background on the Problem or SituationOften occurring just after the introduction, the background section discusseswhat has brought about the need for the projectwhat problem, what opportunity there isfor improving things, what the basic situation is$.$ Writing the background section shoulddemonstrate your particular view of the problem. And, if the proposal is unsolicited, abackground section is almost a requirement as you will need to convince the audience thatthe problem or opportunity exists and that it should be addressed.IV$.$ Benefits and Feasibility of the Proposed ProjectMost proposals discuss the advantages or benefits of doing the proposed project.This acts as an argument in favour of approving the project. Also, some proposals discussthe likelihood of the projects success. In the unsolicited proposal, this section isparticularly important as you are trying to sell the audience on the project.V$.$ PlanWhen writing the plan, you want to explain how youll go about doing the proposedwork. This acts as an additional persuasive element; it shows the audience you have asound, well$-$thought$-$out approach to the project. Also, it serves as the other form ofbackground some proposals need. Remember that the background section $($the onediscussed above$)$ focuses on the problem or need that brings about the proposal. However,in this section, you discuss the background relating to the procedures or technology youplan to use in the proposed work. Once again, this gives you the proposal writer a chance toshow that you know what you are talking about and to build confidence in the audience. Giveenough information in your plan to secure the contract, but dont include all the specifics$($Guffey et al$.,2019).$