Which is NOT an acceptable approach to budgeting in the context of portfolio management?

A.
Budgets are devolved to strategic business units for both business as usual (BAU) and change
initiatives, with portfolio management applied within each strategic business unit

B.
Budgets are devolved to strategic business units for both BAU and change initiatives, with
portfolio management applied across the units to co-ordinate cross-organizational change
initiatives

C.
Budgets are devolved to strategic business units for BAU, but budgets for change initiatives are
controlled centrally, with portfolio management applied within each strategic business unit

D.
Budgets are devolved to strategic business units for BAU but budgets for change initiatives
controlled centrally, with portfolio management applied across the units

Explanation: