You need to know the resolution of the projector, and then use images that
aren't much larger than that resolution. For example, you might have a
projector that can do 1024 x 768 pixels, a standard resolution. Your images
don't need to be any bigger than 1024 x 768, because the extra pixels will
simply be discarded along the way. If your images are a somewhat larger than
that, don't expend a bunch of energy to make them a few percent
smaller...it's not worth the hassle. Just use 'em.
BTW, bmp has no particular advantages, .tif and .jpg and .png are fine, too,
plus all of them are smaller than bmp.