There can be more than one but be focused. These research questions should be very precise and almost like a requirement, be unambiguous, unique, measurable, and answerable in a meaningful way.
The objective then is basically the project goal, again clearly stated in terms of what the researcher wants to achieve, and by which means you will achieve this. This is then followed by tangible sub-goals that will be necessary to make this happen. These sub goals can then be developed into task blocks in the project plan/Gantt chart.
Make the novelty and innovation clear!
Again, remember that this is a proposal of work to be done and so you might also say something about the motivation and feasibility.