Synopsis means a comprehensive or brief summary.
This summary can be of your project which you are willing to submit for attaining approval. The synopsis can help the reviewers to make quick analysis of your submitted project.
So synopsis can give a first look towards your project and can help judge the reviewers whether your project is worthy or not and whether you have the potential or not.
Synopsis can also be an outline of a play, a film or a book.
Synopsis is a general survey of something.
Synopsis is important because in this running age everyone is short of time. Hence in business meetings everyone wants moral of the story not the long story. Synopsis churns all lengthy informations and makes it short and quick for others to gain saving times of all.
Max length of synopsis can be 1-2 pages, not more. To make this, intense study of long passages or information is required for submitting a successful synopsis.