Let me walk through a situation that may be common in many organizations. You as an IT visionary recognize the need for MDM initiative but are having difficulty appropriating funding due to cost concerns or simply as a result of organizational inertia. You decide to ride the coat tail of another major initiative that is somewhat related to the successful implementation of the MDM. Is it a good idea? I would suggest yes, but be careful about setting expectations and having the right level of buy in or your successful execution of MDM initiative may be perceived as not so successful. This may happen due to personalities involved or not having MDM implementation risks included in your schedule or cost estimates. You can be sure that you are going to run into data issues, and amount of data you wil have to deal with will always be more than you think. All these issues may impact the larger intiative and will reflect badly on the MDM effort.
Make sure all stakeholders understand that while MDM is expected to support the larger initiative, it has its own benefits and its goals are much larger in scope. Also, include additional time and cost to mitigate the risks.