Code of Ethics

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@lok
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Code of Ethics

Postby @lok Sun Oct 26, 2014 5:28 pm

Difference between Conflict of interest & personal gain.

Question -

You are the project manager for a telecom company. You're working on a project that entails upgrading technical hardware and equipment. The estimated cost of hardware & equipment is $1,750,000. You are reviewing proposals from three different vendors.

Scenario 1 - one of the competing vendor invites you for lunch. (as per ans, this is conflict of interest & sld b rejected)

scenario 2 - The vendor offers you and your family the use of the company yacht for the upcoming weekend. (as per ans, this is personal gain & sld b rejected)

Why the 1st scenario is conflict of interest & the scenario 2 is personal gain?

Hope my question is making sense
bs_pani
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Re: Code of Ethics

Postby bs_pani Sun Oct 26, 2014 5:59 pm

Personal gain should be gaining monetary value. Both should be conflict of interest. EXporrts!!!
manishpn
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Re: Code of Ethics

Postby manishpn Wed Oct 29, 2014 11:15 am

HI,
Kindly note that code of ethics, professionalism mandates that right from start of bidding process till a final decision is made no informal communication should be made with any vendor w.r.t Bid, having informal lunch may result in PM unknowingly sharing some information which me be directly or indirectly usefule for competing vendor hence its conflict of interest.
Second sceanrio is stratightforward personal gain but also conflict of interest.
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
@lok
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Re: Code of Ethics

Postby @lok Wed Oct 29, 2014 2:39 pm

Question 1 :

You are a project manager for a telecommunications firm.
You’re working on a project that entails upgrading technical
hardware and equipment. The estimated cost of the hardware
and equipment is $1,725,000. You are reviewing products
from three vendors. One of the vendors offers you and your
family the use of the company yacht for the upcoming
three-day weekend. What is the most appropriate response?
A. Thank them, and accept. You don’t believe there is a
conflict of interest or an integrity issue at stake.
B. Thank them, and decline. You know this could be
considered personal gain, which could call your integrity into
question.
C. Thank them, and accept. Immediately report your actions
to the project sponsor so that your motives are not called into
question after the fact.
D. Thank them, and decline. You know this could be
considered an integrity issue on the part of the vendor.

Ans - B
@lok
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Re: Code of Ethics

Postby @lok Wed Oct 29, 2014 2:42 pm

You are a project manager for a telecommunications firm.
You’re working on a project that entails upgrading technical
hardware and equipment. The estimated cost of the hardware
and equipment is $1,725,000. You are reviewing products
from three different vendors. One of the competing vendors
invites you to lunch. What is the most appropriate response?
A. Thank them, but let them know this could be a conflict of
interest since you haven’t made a decision about which
vendor you’re going to choose.
B. Thank them, and decline. You know this could be
considered personal gain, which could call your integrity into
question.
C. Thank them, and accept. You don’t believe there is a
conflict of interest or a personal integrity issue.
D. Thank them, and decline. You believe this could be a
conflict of interest on the part of the vendor, and you don’t
want to encourage that behavior.

Ans - A
@lok
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Re: Code of Ethics

Postby @lok Wed Oct 29, 2014 2:48 pm

If we see the choices of Question 1 then obviously B is the correct option among all the 4.

I just wanted to know, "the use of the vendor company's yacht for the upcoming
three-day weekend". How it is a personal gain
bs_pani
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Re: Code of Ethics

Postby bs_pani Wed Oct 29, 2014 3:33 pm

I still believe both is conflict of interest as personal gain is gaining monetary value as per Rita Page 559.

@ Manish could you please elaborate how using the yacht is a personal gain

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