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In the global world with dramatically fast changing needs and resources it is hard to predict with any degree of certainty what our society will look like in the future. That is why the part of engineering universities’ mission becomes to educate new generation of engineers, who will be able to make a significant contribution to sustainable society development ten, twenty or forty years into the future. They should acquire a number of key professional and generic competencies, necessary to successfully meet the challenges regardless of what the future holds. Such requirements are already included to different extent in EUR-ACE Framework Standards, Washington Accord Graduate Attributes and Professional Competency Profiles, CDIO Syllabus and Federal state educational standards of RF.