The highest level of competition takes place at the annual International Conference (IC), which is held in May or June, at the end of the United States school year.

The IC is held at the campus of a public university in the United States (the country with the largest number of competitors), with a new location being chosen every two years.

FPSPI was originally founded to train students to use a specific six-step problem-solving process: The original Future Problem Solving competition—now known as Global Issues Problem Solving (GIPS)—evaluates students' competency in using this problem-solving process in the context of a fictional future situation.

FPSPI later developed additional programs that make use of the six-step problem-solving process, or that otherwise train students in creative critical thinking.

After completing the six-step process in two hours, students then immediately begin work on a second competition called "Presentation of Action Plan" in which they illustrate their final solution by preparing and performing a skit.