Conflict of Interest

The Code of Professional Conduct has an underlying emphasis on viewing and performing project management as a truthful and ethical profession. The final section of the code discusses the importance of not compromising legitimate interests by receiving inappropriate compensation or benefits for personal or professional gain.

It also stresses the importance of not allowing personal gain to influence your decision making or performance of your duties as a project manager. Remember that we provide services to customers. The ethics of the profession places a lot of importance in maintaining the project management profession's integrity by conducting yourself in an upstanding and legitimate manner with high moral standing.

Both accepting and giving gifts, unjustified compensation, kickbacks, and any form of unjust enrichment are frowned upon. As with any other profession, the perception of accepting or offering inappropriate gifts will get you in trouble. The code makes this very clear by stating that it is not acceptable.

In order to show flexibility in its interpretation, the Code of Professional Conduct states that personal gain for project management services is negotiable in countries where it is acceptable according to applicable laws or customs of the country. Note, however, that for businesses based in the United States, bribery or "gifts" are illegal, even when you're doing business in a country where that practice is considered customary. If you have any doubt about a given situation, consult your corporate legal department or an attorney.

Truthfulness in the PMI professions is further extended to include the certification process and all activities associated with the collection of data and the preparation of applications. The assurance of honest and accurate information includes certifications or credentials from any academic organizations concerning your involvement with educational opportunities.

With all the corporate corruption in today's news, unjustified personal gain is one of the hottest topics on the exam. The practice of inflating hourly rates to complete a project or to make the outcome look better is not suggested. Providing untrue information to an organization is not ethical or appropriate for a project manager. We have standards to maintain, and the credibility of the profession is in the hands of the people who actually do the work.

Again, you must understand the concept of conflict of interest for the PMP exam. To help you with this concept, here are some questions that exemplify a potential conflict of interest:

  • Did you receive money or benefits for work that was not performed?

  • Did you have an unfair advantage in a business transaction?

  • Did you receive benefits or compensation in order to influence your business decisions?

  • Was your decision influenced by any personal gain you might receive as a result of the decision?

If you answer "yes" to any of these questions, you likely have a conflict of interest.

The compliance with all organizational rules and policies by utilizing accurate and truthful information is a key element to this requirement.

Affiliations

Using your relationships with friends and family in order to enrich yourself inappropriately in business arrangements is not recommended because it will likely be perceived as a conflict of interest. The key concept is inappropriate compensation, which includes gifts such as travel tickets, vacations, money, and entertainment.

Some of these affiliations may be with stakeholders within the organization as well. Stakeholder influence can have a significant impact on your career and credibility within the profession. Just make sure you are not placing your personal interests above those of the project when dealing with family affiliations, stakeholders, vendors, and employees.



PMP Exam Cram 2. Project Management Professional
PMP Exam Cram 2. Project Management Professional
ISBN: N/A
EAN: N/A
Year: 2003
Pages: 169

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