Final answer:
The statement in project management, that it is often necessary to trade-off one objective for another is true because project managers must make decisions that often involve prioritizing certain goals over others, showing a clear trade-off between factors like time, cost, and quality.
Step-by-step explanation:
In the context of project management, decision-makers frequently need to balance multiple objectives, and this balancing act can result in the need to prioritize one goal over another. This is a trade-off. For example, if a project is running behind schedule, a project manager might have to decide whether to allocate additional resources to speed up completion, understanding that this would increase costs.
Conversely, if budget constraints are tight, the quality of the project's deliverables may need to be compromised to maintain cost control. In both cases, there is a clear trade-off between time, cost, and quality. Such trade-offs are integral to project management and address challenges opportunity cost and decision-making.