Yes. But it should work around the problem with WiFi not working when you turn the system back on. The suspend and hibernate modes have been a pain point for Linux ever since hardware vendors started supporting them. Ubuntu disabled hibernation because of exactly the sort of problem you are describing.
If you want to (almost) completely disable power management, you could try passing acpi=ht on the kernel command line. This may inhibit more than you want though. For example, your screen will not turn off either and your system will not power off when you perform a soft shutdown.
If you just want to disable power management for your WiFi card, use lsmod to figure out which driver (kernel module) your WiFi card is using and then use modinfo <module> to list the parameters that the kernel module accepts. One of them will likely be an option to enable or disable power management. You can then create a .conf file under /etc/modprobe.d containing a line like the following to pass the option to the module on system startup:
At that point about all you can do is google the problem. I found the following which states that the way that driver interprets those parameters is counter intuitive.
Using iwconfig was suggested as a workaround.
I think you could put the following in /etc/rc.d/rc.local and mark that file executable (chmod +x /etc/rc.d/rc.local) to have power saving disabled on system startup. I’m not sure if it would stay disabled though. It is possible that something else in the system is turning power management on for the WiFi card.
/sbin/iwconfig wlan0 power off
You might need to substitute wlan0 for the link name associated with your card. Use ip link to list the network links detected on your PC.