diff --git a/charts/argo-workflows/Chart.yaml b/charts/argo-workflows/Chart.yaml
index 6a8e00b8..57659f23 100644
--- a/charts/argo-workflows/Chart.yaml
+++ b/charts/argo-workflows/Chart.yaml
@@ -2,7 +2,7 @@ apiVersion: v2
 name: argo-workflows
 description: A Helm chart for Argo Workflows
 type: application
-version: 0.4.2
+version: 0.5.0
 appVersion: "v3.1.8"
 icon: https://raw.githubusercontent.com/argoproj/argo-workflows/master/docs/assets/argo.png
 home: https://github.com/argoproj/argo-helm
@@ -15,4 +15,4 @@ maintainers:
   - name: benjaminws
 annotations:
   artifacthub.io/changes: |
-    - "[Changed]: Bump appVersion to 3.1.8"
+    - "[Added]: Add controller namespaceParallelism param to configmap"
diff --git a/charts/argo-workflows/templates/controller/workflow-controller-config-map.yaml b/charts/argo-workflows/templates/controller/workflow-controller-config-map.yaml
index dd2af42e..ce6f166b 100644
--- a/charts/argo-workflows/templates/controller/workflow-controller-config-map.yaml
+++ b/charts/argo-workflows/templates/controller/workflow-controller-config-map.yaml
@@ -17,6 +17,9 @@ data:
     {{- if .Values.controller.parallelism }}
     parallelism: {{ .Values.controller.parallelism }}
     {{- end }}
+    {{- with .Values.controller.namespaceParallelism }}
+    namespaceParallelism: {{ . }}
+    {{- end }}
     {{- if or .Values.executor.resources .Values.executor.env .Values.executor.securityContext}}
     executor:
       {{- with .Values.executor.resources }}
diff --git a/charts/argo-workflows/values.yaml b/charts/argo-workflows/values.yaml
index c19562d0..cbbe9491 100644
--- a/charts/argo-workflows/values.yaml
+++ b/charts/argo-workflows/values.yaml
@@ -42,6 +42,8 @@ controller:
     tag: ""
   # parallelism dictates how many workflows can be running at the same time
   parallelism:
+  # Limits the maximum number of incomplete workflows in a namespace
+  namespaceParallelism:
   # podAnnotations is an optional map of annotations to be applied to the controller Pods
   podAnnotations: {}
   # Optional labels to add to the controller pods