Final answer:
Environmental Ethics and Business Ethics in Emerging Technology are key areas to apply PMI ethical principles of 'Respect', 'Integrity', and 'Fairness', contributing to project success and sustainability.
Step-by-step explanation:
Two aspects of project management where one can heavily apply ethical principles are Environmental Ethics and Business Ethics and Emerging Technology. For Environmental Ethics, the PMI standard of ethics that applies is 'Respect', which entails an understanding of the environmental impact and promotes sustainability in project decisions. This standard is crucial for ensuring that projects do not harm the environment and that they consider long-term ecological consequences which contributes to environmental sustainability and responsible stewardship.
When it comes to Business Ethics and Emerging Technology, 'Integrity' and 'Fairness' are the standards that stand out. Integrity involves honesty in the reporting of project status, managing expectations, and transparent communication, especially when it comes to adapting new technologies. Fairness ensures that all stakeholders are considered when adopting new technology and that all benefits and risks are equitably distributed. Following these ethical standards leads to trust among stakeholders, reduces the risk of conflicts, and ensures that technology is used responsibly.