Ethical aspects of stakeholder behavior can have a wide range of implications for other areas of project management. This research critically reviewed project ethics under the philosophical paradigm change from modernism to late modernism, which led to a flexible and realizable ethical framework based on Levinasian and Nietzschean moral psychologies. A qualitative approach was adopted through a multiple-case study to confront the theoretical framework with the empirical world, evaluate its authenticity, and obtain a better understanding of its challenges. Research results showed that stakeholders’ unconscious desire for existential meaning can provide considerable potential for dealing with ethical challenges.