Hi,
I am a product owner for a defense contractor. We are non-profit and our budget is set by fiscal year. All of the in-house software (web app) development we do is for projects that have been approved through governance (new) or upgrades to apps we've built over time. When a new, large project comes along, say to replace a legacy system on a platform that will be retired, these projects are often pretty much fully defined as regards the functionality they must provide before they can go live (the MVP), which is very often a few to several months of work.