According to the punctuated-equilibrium model, groups experience a transition halfway between the first meeting and the official deadline .

Regardless of the length of the project time frame  

Explanation:

Punctuated-equilibrium model, first proposed in 1972 by a paleontologist. They believed that evolution occurs in rapid radical and spurts way. It does not grow gradually over time. There are many examples in this model to understand the social behavior of a person. This behavior applied to the growth of an organization. Changes during this period were incremental because of resistance to change. It takes changes during the process of becoming institutionalized.  

Thus group experience halfway in the first meeting and official deadline regardless of the length of the project time frame.

answer; the federal reserve system;

the answer your looking for is c. : )