in writing to the relevant Component Acquisition Executive for a major acquisition program that has a life cycle cost estimate of at least $300,000 but not more than $1,000,000,000 if all of the following requirements are met: (i) The component concerned possesses working policies, processes, and procedures that are consistent with Department-level acquisition policy. (ii) The Component Acquisition Executive concerned has adequate, experienced, and dedicated professional employees with program management training, as applicable, commensurate with the size of the acquisition programs and related activities delegated to such Component Acquisition Executive by the Under Secretary for Management. (iii) Each major acquisition program concerned has written documentation showing that it has a Department-approved acquisition program baseline and it is meeting agreed-upon cost, schedule, and performance thresholds. (C) Level 1 acquisitions The Under Secretary for Management may delegate acquisition decision authority in writing to the relevant Component Acquisition Executive for a Level 1 major acquisition program that has a life cycle cost estimate of more than $1,000,000,000 if all of the following requirements are met: (i) The Undersecretary for Management conducts a risk assessment of the planned acquisition and determines that it is appropriate to delegate authority for such major acquisition program. (ii) The component concerned possesses working policies, processes, and procedures that are consistent with Department-level acquisition policy. (iii) The Component Acquisition Executive concerned has adequate, experienced, and dedicated professional employees with program management training, as applicable, commensurate with the size of the acquisition programs and related activities delegated to such Component Acquisition Executive by the Under Secretary for Management. (iv) Each Level 1 major acquisition program concerned has written documentation showing that it has a Department-approved acquisition program