VUCA and Project Management Standards

VUCA , an acronym that stands for Volatility, Uncertainty, Complexity and Ambiguity, has become a buzzword in management and business circles. It has added a new dimension to management principles and practice this requires a fresh approach to adapt to the new situations that are emerging in business and industry. Over the years project management standards have been adapting to industry practices and through its revisions introducing new topics and areas of knowledge. The objective of the standards has been to present information that is relevant and valid for today's operations. Various project management standards have been studied to assess if the four parameters of VUCA have been included and discussed and if they are adequate for the practising project manager to function effectively.