Final answer:
Top management can devise standards and guidelines for project management, providing direction and setting expectations for the project team.
Step-by-step explanation:
Top management can indeed devise the standards and guidelines to follow when performing project management.
They set the framework and provide direction for the project team by establishing the expectations and requirements that need to be met. This includes defining the project goals, objectives, and scope, as well as establishing the project management processes and practices to be followed.
For example, they may develop a project management methodology that outlines the steps and deliverables required at each phase of the project. They may also establish guidelines for risk management, quality assurance, and stakeholder communication.