Question 101 · 439 in bank
You are a program manager for your organization. You have proposed a program to the management that will last four years and will cost $35 million to create. Management has asked to see the program charter and the proposed costs and benefits of the program. Management agrees to your program charter and proposed to fund the program in increments at the completion of each milestone. What type of funding does management proposed for this program?
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Answer: B
Explanation
The type of funding that management proposed for this program, where funding is provided at the completion of each milestone, is: B. Step funding Step funding involves providing funding in increments or steps, often tied to the completion of predefined project milestones. This approach allows management to review the progress of the program at each milestone and make informed decisions about continuing, modifying, or discontinuing the program based on the achieved results. It aligns funding with project progress and provides a structured way to manage financial commitments throughout the program's lifecycle.
Source: Adapted from community discussion — [Removed]