Using CRM opportunities for recording internal project bids - pros/cons?

We use CRM Opportunities for recording project pursuit of externally funded projects and it works well for this. We have one sales cycle with associated statuses and phases.
I am considering using Opportunities to record bids for internal projects and funding as this also goes through an approval process. I think an alternative sales cycle with different phases and status may be needed as the transaction is currently highly tailored for external needs.
Alternatively to use another version of Opportunities with a different field selection. I'd be interested in views or lessons from your own experience

We use CRM Opportunities for recording project pursuit of externally funded projects and it works well for this. We have one sales cycle with associated statuses and phases.
I am considering using Opportunities to record bids for internal projects and funding as this also goes through an approval process. I think an alternative sales cycle with different phases and status may be needed as the transaction is currently highly tailored for external needs.
Alternatively to use another version of Opportunities with a different field selection. I'd be interested in views or lessons from your own experience

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