Hi All
As am reading more I'm finding that we don't do upfront budgeting for the Scrum-based projects as with Scrum the Product Backlog is never complete and it's always changing and the initial Product Backlog doesn't contain a lot of items, so estimating a budget, in the beginning, is almost not possible. I understand as you go on in the initiative/project, you will have a better understanding of which features will be needed and probably can come up with some rough estimate then but we need to seek funding in the beginning.