Failure to include project management in the WBS will increase the likelihood that the project will not be completed on time and within budget.

The statement is True

Explanation:

The purpose of including a project management in the WBS is to allow the project manager properly view the task involved in the project more effectively and thus know what is going to plan and what is not. In this way the project manager can have ample knowledge on whether the project is in line with time and budget.