With little amounts of funding available for individual visual artists and hundreds of applicants, the reality has become that being selected feels like winning a lottery. Jurors have more excellent proposals from which to choose than are funds available.
1. Helps the artist to organize and articulate their thoughts about the project on paper.
2. Forces the artist to step back, review their visual support documentation in relation to their proposed project, make selection, and order for presentation impact.
3. Preparing a budget gives the artist insights to the economic feasibility of their project
4. Educates a "peer jury" about the breadth of the artist's practice, and the project for future opportunities if not selected this time.
5. Your ideas are out there and you have no control of how they might be interpreted, or used.
6. Finally, while most artists feel their proposal should be selected by the jury, the reality remains that there are more good applications than there is money so a priority list is created. If your proposal is number 6 on the list and there's only enough funding for 5 applicants, then you are out of luck.
7. We say, "good luck!" for valid reasons. Any winning artist is probably well deserving, and there are more also that may be deserving. By the luck of a moment in time, when a group of jurors try to rationalize an order for decision making, can determine a "successful" candidate.