Currently, many organisations experience challenges as a result of uncertainty, fast-changing environments, globalisation, and increasingly complex work tasks. In order to adapt to these challenges, a shift in leadership style may be needed. Traditionally, leadership has been seen as a vertical relationship (top-down influence). For a number of decades, this vertical leadership model has been the principal one in the leadership field; but lately, shared and balanced leadership have gained importance, especially in the project management literature. This theoretical study highlights some differences between 'leadership' and 'management', and explores current trends in the leadership literature. It especially focuses on vertical, shared, and balanced leadership in project management, and identifies future opportunities for research. OPSOMMING Baie organisasies ervaar vandag uitdagings as gevolg van onsekerheid, vinnig-veranderende omgewings, globalisering, en toenemend komplekse werkstake. 'n Verskuiwing in leierskapstyl mag nodig wees om aan te pas by hierdie uitdagings. Tradisioneel was leierskap gesien as 'n vertikale verhouding (bo-na-onder invloed), en hierdie vertikale leierskapsmodel was die vernaamste een in die leierskapsveld vir baie jare. Gedeelde en gebalanseerde leierskap het onlangs begin om belangrik te word, veral in die projekbestuursliteratuur. Hierdie teoretiese studie bespreek sommige verskille tussen leierskap en bestuur, en ondersoek die onlangse rigtings in die leierskapsliteratuur. Dit fokus veral op vertikale, gedeelde, en gebalanseerde leierskap in projekbestuur, en identifiseer toekomstige geleenthede vir navorsing.