Mirroring the corporate culture, the area of ethics is assuming greater importance in project management with most professional associations establishing professional codes. With an increased focus on the professionalisation of the discipline there is an implicit expectation that project managers will behave in ethical and professional ways, discharging their duties in a moral and responsible fashion. Many of the codes hint that potential breaches may result in exclusion or further sanctions, suggesting that there is a clear position that can be evaluated and judged by an external agency. In reality, right and wrong are not absolute positions that are always easy to define and address. Ethical decision making implies grappling with shades of grey and trying to make sense of alternative positions, expectations and values.