Final answer:
The statement that is not true about a project is that both cost and stakeholders' influence are at the highest during the execution phase. Stakeholders have more influence in the beginning when the cost of changes is lower, and as the project progresses, costs increase and stakeholder influence decreases.
Step-by-step explanation:
The correct answer to the question – All are true about a project except? is option 3) When the project is executing, both cost and stakeholders' influence are at the highest. In the realm of project management, it is commonly understood that while the cost of a project generally increases as the project moves forward, the influence of stakeholders is actually highest during the initial stages of the project. This is because early in the project lifecycle, decisions can be made that significantly affect the project’s outcome with lower costs associated with changes. As the project progresses, the cost of making changes increases, and the opportunity for stakeholders to influence the final product or outcome decreases.
Typically, the influence of stakeholders is high at the beginning of a project because the project's scope and direction are being set. It is during this phase that important design decisions are made, which are cheaper to implement than later in the project when the design has been solidified. When the project is near completion, both staffing levels and the ability to influence the product characteristics are low because most decisions have been made and changes would be costly and time-consuming.
In conclusion, it is the beginning of the project lifecycle where both costs are relatively low and the opportunity for stakeholders to shape the project is greatest, while execution generally involves higher costs and reduced ability for stakeholders to exert their influence, contrary to the claim made in option 3.