12.5 Grant Period It is anticipated that the period of time required to analyze HST data will normally be one or two years, depending on the type and complexity of the project. GO programs with observations approved for more than one cycle (continuation programs) will submit a detailed budget in Phase II of each subsequent cycle. The budget submission for the first year will only include costs for the first year of the project, and the budget narrative will include an overall management plan and estimated costs for all approved cycles. The Institute may request confirmation from PIs that the originally proposed allocation of funds among Co-I institutions remains appropriate after the first year of the multi-year program.