Ethics is the key to successful project execution. Project Management is driven by decisions and Project Managers often need to make dozens of decisions every day. Some of them require a longer decision-making process as they involve people, resources, and the environment. These factors might be in conflict, create a dilemma or risks.
Code of Ethics and Professional Conduct
The Code of Ethics and Professional Conduct supports Project Managers with making tough decisions and is aligned with the four values: Responsibility, respect, fairness, and honesty.
This covers the duties of taking ownership for decisions and actions that Project Managers make and take or fail to do so, showing a high regard to others, the environment and to Project Managers themselves, decisions must exclude self-interest, prejudice, and favouritism, and lastly, honesty which means acting in a truthful manner in Project Managers' communications as well as in their conduct.
According to TechRepublic, these are the advantages of ethics:
* Raises future standards
* Increases faith and trust
* Imprints on individual moral mindsets and behaviours
* Improves business relationships at all levels
* Promotes fair decision making
* Reduces project risks
* Increases the chance of success
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