The broader use of project management knowledge and best practices, especially the Project Management Institute approach, requires investments and new competencies. Thus, many companies have invested significantly in project management practice development, but they are often frustrated with the tangible achieved results. The aim of this paper is to discuss the main critical issues of project management implementation in Brazilian companies. The adopted methodological approach was multiple cases, carried out in three companies in the Brazilian telecommunications sector. These companies were selected due to the significant investment in project management and the practices they focused on improving. Moreover, the three companies play different roles in one of the most dynamic sectors in the Brazilian market. The data collection was carried out by spontaneous interviews (YIN, 2005) based on a script, with an interlocutor who knows the project management concepts with access to top management. As a result, it could be highlighted that companies believe that their investments produce good results, although they will only be able to demonstrate this when they develop solid project management programs and align them with corporate strategies and when appropriate strategic performance measures are available.