Project Management - Projects

Regardless of all the innovations, it is still difficult to manage big projects in modern times. Take the construction of Wembley Stadium, for instance: the home of English soccer was £750 million over budget and finished late. In addition, researchers say that even smaller projects often have problems, including IT projects. Some reports claim that in the early 2000s the cost of IT projects was frequently more than 50 percent over budget and that projects even took more than 80 percent more time than previously programmed. These issues have inspired people to found project management companies such as IPM (Integrated Project Management), a consulting firm that centers its attention on helping other companies that want to take on big projects. Project management is not a new science. There is even an international association, the Project Management Institute, based in the United States. Its goal is to continuously assess people around the world concerning this field. All of its members are experts in project management. Thus, despite the obstacles, succeeding with a big plan is not impossible: wisely directed corporations can fulfill business initiatives and overcome challenges. Which of the following are true statements about project management?