The fundamental ASPIS principle is that absolutely all decisions made by Fund managers and investors are transparent and directly executed on-chain without a middleman. This approach is critical for asset management, as it prevents fraud or simply discrepancies between decisions made "on paper" and the actual actions taken on behalf of the vault. This means that unlike platforms like Snapshot or other "DAO software", proposals can not be canceled and irreversibly implemented without 3rd party involved.
Since the manager is acting on behalf of the Vault, the number of proposals that can be created by investors is limited, however, investors can replace the manager and set up controlling rules for the manager (Similar to LLCs where investors can appoint General Manager, but can not intervene in daily operations).
All Vault decisions are made either by voting or on the basis of the fund manager's individual decisions (Vault members delegate him necessary permissions). Check here how to create proposals to change the parameters of the fund's contract.