Final answer:
The statement regarding project management is true. It is crucial for engineers, who often multitask on several projects, to utilize project management skills so that they maintain deadlines and contribute to the success of their projects, like the timely release of a new video game controller.
Step-by-step explanation:
The statement that project management is the application of knowledge, skills, tools, and techniques to project activities in order to meet project requirements is True. Effective project management involves meticulous planning, establishing clear-cut goals, allocating appropriate resources, and setting realistic deadlines to ensure successful completion of projects. Engineers, especially, must deal with multiple projects with varying tasks and deadlines, which requires a high level of organizational and management skills.
For instance, in the case of developing a new video game controller, engineers must navigate through the design, testing, and manufacturing process efficiently. If they fail to meet critical deadlines, it could result in missing lucrative sales opportunities such as the holiday season or giving an edge to competitors. Effective project management enables teams to align their individual skills and responsibilities to achieve the collective goal while adhering to the set timeline.