Is it secure to setup /tmp with 777 permissions?

My PHPBB and vbulletin did not worked to upload images, avatars saying: Temporary folder could not be found. Please check your PHP installation.

When changed /tmp folder permissions by "chmod 777 /tmp" it started to work, but is it secure to have these permissions?

I think these permissions are common, but one should probably set noexec,nosuid mount parameters to the /tmp partition to prevent some bad scripts execution from this directory that is writable by all users.