Even though Industry 4.0 is primarily focused on the implementation of advanced digital technologies, this is not the only aspect that should be considered. One of the aspects that calls for attention is the ability to create a sustainable and agile industrial environment. In this sense, the role of project management is crucial for achieving business excellence in a new industrial paradigm. The main goal of this paper was to determine the impact of different levels of project management maturity on business excellence in the context of Industry 4.0. The research in the paper was made using a sample of 124 organizations, differing in industry type and size, and recognized through the business excellence awards or recognitions given by European Foundation for Quality Management (EFQM). Using the Project Management Maturity Model (ProMMM), a significant connection was found between project management maturity and business excellence. Considering technology advances, these relationships were further examined in the context of Industry 4.0. Empirically based conclusions were drawn, which contribute to the literature on project management and business excellence in the context of Industry 4.0. Practitioners can implement them for more effective project management with the intention of bringing excellence into the organization’s operations and results. Additionally, they can be useful to help organizations better cope with changing technology trends.

With the rapid advancements in Information and Communication Technologies (ICT) and the widespread enthusiasm of both theoreticians and practitioners, the broader transition to Industry 4.0 (I4.0) in major industries appears imminent. This empirical study analyzes business data from 1140 automotive companies operating in Europe, utilizing various business intelligence platforms and employing decision tree analytics to establish connections between enablers, drivers, company size, and financial resources. The goal is to identify persistent barriers hindering the rational transition to Industry 4.0. The findings reveal an uneven transformation within the industry nexus. While larger companies possess the financial means to allocate collective intelligence, technical resources, and drive necessary for fulfilling I4.0 requirements, smaller members of the nexus lag behind despite their enthusiasm and intent. This imbalanced evolution poses a threat to the comprehensive transformation required for realizing all the benefits of Industry 4.0 within the sector. The primary discovery indicates that small to medium-sized enterprises do not exhibit the same rates of Industry 4.0 adoption, a lag highly correlated with their available financial and human resources for digital transition. The decision tree proposed in this study offers guidelines for achieving an Industry 4.0-compliant nexus. Given its diversity and substantial global impact, the case study from the automotive industry proves intriguing and may later be generalized to other sectors. The study’s outcome could empower engineering managers and researchers to implement, execute, and assess the impact of digital strategies based on the financial capabilities of industrial institutions.