Ethical issues involve diverse professions in which Information Technology project management (ITPM) is not an exception. ITPM professionals are obligated to perform a variety of tasks conscientiously and ethically because their decisions affect the performance and functionality of their product outcome, which in turn affect the welfare and wellbeing of the society. ITPM, like any other profession, is faced with a lot of ethical dilemmas which calls for decisions and judgments to be made by professionals during the course of the execution of their responsibilities. This paper focuses on the ethical codes of IT project management as it discusses the roles such codes can play as professionalism strategy, ethical position, and practical approach, in order to resolve some fundamental ethical dilemma in the profession. A code of ethics that is strictly practiced and adhered to is especially necessary to educate and inspire IT professionals and the society at large to achieve ethical behavior that cannot be compromised nor be faulted.