Final answer:
The statement, one of the most significant driving forces behind the demand for project management is the ever-increasing expansion of the product life cycle, is 1. True.
Step-by-step explanation:
The escalating expansion of the product life cycle stands out as a pivotal catalyst propelling the demand for project management.
This assertion holds true as indicated in the referenced information.
On the supply side of markets, producers encounter greater feasibility for long-term production expansion in comparison to the short run.
Establishing new factories, recruiting additional personnel, or inaugurating fresh outlets can be financially onerous and logistically intricate in the short term.
However, spanning a few years renders these endeavors more plausible.
Consequently, the gradual elongation of the product life cycle accentuates the indispensability of project management.
This discipline becomes instrumental in efficiently overseeing and coordinating the multifaceted processes of product development, production, and distribution over an extended temporal horizon.
The role of project management becomes increasingly vital in navigating the complexities associated with sustained product life cycles, ensuring organized and successful project execution.
So, the statement, one of the most significant driving forces behind the demand for project management is the ever-increasing expansion of the product life cycle, is 1. True.