Final answer:
A project does indeed have a specific time frame or finite lifespan, which is true; this is necessary for effective project management and has significant implications in fields like engineering and politics. The correct option is A.
Step-by-step explanation:
The question whether a project has a specific time frame or finite life span can be answered as true. Projects generally have defined start and end dates, making them time-bound activities. This is essential for planning, execution, and evaluation of the project's success.
A specified period of time is particularly important in fields such as engineering, where task deadlines are critical and can directly impact the success and revenue of a project. For example, engineering teams need to meet product development deadlines to capitalize on market opportunities such as holiday sales or to be the first to market ahead of competitors.
Similarly, in politics, term limits also demonstrate the concept of a finite time span by imposing a maximum time that individuals can serve in a particular office.