The Project Management Association of Iceland (VSF) was founded in 1984 to lead the development and advancement of project management in Iceland. The association is open to all those interested in this field and it has now a distribution list of over 400 individuals, from the private and public sector.

VSF is a member of the International Project Management Association (IPMA) and the project management association of the Nordic countries (NORDNET). In addition the association is also a member of the International Cost Engineering Council (ICEC). VSF also maintains a close cooperation with other associations such as the Project Management Institute (PMI) in USA.

VSF has actively participated in the work of defining the requirements for the certification of project managers and currently, VSF certificates Icelandic project managers according to the IPMA Four Level Certification.