The emergence of Industry 4.0 has dramatically reshaped IT project management, necessitating a reassessment of the competencies required for successful project delivery. This study investigates the evolving skills and methodological preferences of IT project managers within the South African context. Utilizing a quantitative research approach, data were collected from 50 IT project managers across various backgrounds. The findings reveal that competencies in cybersecurity awareness and ethical decision-making have become paramount, reflecting the increasing emphasis on data protection and responsible leadership. Agile methodologies, particularly Scrum, were identified as the preferred management approaches, highlighting the demand for flexibility and responsiveness in today’s fast-paced environments. Moreover, there is a notable inclination towards hybrid methodologies that combine traditional and agile frameworks to balance structure with adaptability. While technical skills remain vital, the study underscores a significant shift towards prioritizing ethically grounded and security-centric competencies. These insights provide an invaluable resource for organizations, educational institutions, and project managers looking to align with the evolving demands of Industry 4.0. Further research is encouraged to explore the long-term effects of these shifting competencies and their applicability in a global context.