Project Management in the Time of VUCA: Threat or Opportunity?

Abstract

This study addresses the "projectification of society" and its alignment with the VUCA framework (Volatility, Uncertainty, Complexity, Ambiguity). Four widely used international project management standards—PMI, IPMA, PRINCE2, and PM2—are evaluated for their suitability in the VUCA environment. The research employs a multicriteria approach, specifically the Weighted Sum Approach method, considering factors like volatility, uncertainty, complexity, and ambiguity. The selected standards are scrutinized based on their adaptability to VUCA challenges, with a focus on PMBOK, IPMA, PRINCE2, and PM2. The seventh edition of the PMBOK has been evaluated on the first position. The study emphasizes the crucial role of selecting an appropriate project management standard for success in navigating the dynamic VUCA world. The results confirmed this and brought a number of recommendations for managing projects in a VUCA environment.This study addresses the "projectification of society" and its alignment with the VUCA framework (Volatility, Uncertainty, Complexity, Ambiguity). Four widely used international project management standards—PMI, IPMA, PRINCE2, and PM2—are evaluated for their suitability in the VUCA environment. The research employs a multicriteria approach, specifically the Weighted Sum Approach method, considering factors like volatility, uncertainty, complexity, and ambiguity. The selected standards are scrutinized based on their adaptability to VUCA challenges, with a focus on PMBOK, IPMA, PRINCE2, and PM2. The seventh edition of the PMBOK has been evaluated on the first position. The study emphasizes the crucial role of selecting an appropriate project management standard for success in navigating the dynamic VUCA world. The results confirmed this and brought a number of recommendations for managing projects in a VUCA environment.