Final answer:
The statement that is NOT a major disadvantage of placing a project within a functional element is (d), which refers to the career advancement benefits within a functional division.
Step-by-step explanation:
The statement that is NOT a major disadvantage of placing a project within a functional element of the parent organization is: (d) The functional division contains the normal path of advancement for individuals whose expertise is in the functional area. This statement refers to the career progression of individuals within a functional area and is actually an advantage, as it provides clear career paths and promotes expertise in specific domains. The other options: (a) projects facing delays due to conflicting priorities, (b) constrained resource allocation, and (c) limited cross-functional collaboration, are all potential disadvantages caused by the silos that can exist within functional departments, inhibiting project efficiency and effectiveness.