Professional Code of Ethics(Professional Bodies Registration NO. PB. 68 | Affiliated to NABPTEX | Partner of American Association of Project Managers)
Professional Code of Ethics
The circumstances in which Members operate may give rise to specific threats to compliance with the fundamental principles. It is impossible to define every situation that creates such threats and specify the appropriate mitigating action. In addition, the nature of engagements and work assignments may differ and consequently different threats may exist, requiring the application of different safeguards. A conceptual framework that requires Members to identify, evaluate and address threats to compliance with the fundamental principles, rather than merely comply with a set of specific rules which may be arbitrary, is, therefore, in the public interest. This Code provides a framework to assist Members to identify, evaluate and respond to threats to compliance with the fundamental principles. If identified threats are other than clearly insignificant, Members should, where appropriate, apply safeguards to eliminate the threats or reduce them to an acceptable level, such that compliance with the fundamental principles is not compromised.
Therefore members are required to comply with the following fundamental principles:
- Integrity: Members should be straightforward and honest in all professional and business relationships.
- Objectivity: Members should not allow bias, conflict of interest or undue influence of others to override professional or business judgments.
- Professional Competence and Due Care: Members has a continuing duty to maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional service based on current developments in practice, legislation and techniques. Members should act diligently and in accordance with applicable technical and professional standards when providing professional services.
- Confidentiality: Members should respect the confidentiality of information acquired as a result of professional and business relationships and should not disclose any such information to third parties without proper and specific authority unless there is a legal or professional right or duty to disclose. Confidential information acquired as a result of professional and business relationships should not be used for the personal advantage of the Members or third parties.
- Professional Behaviors: Members should comply with relevant laws and regulations and should avoid any action that discredits the profession.
Ethical Conflict Resolution;
- In evaluating compliance with the fundamental principles, Members may be required to resolve a conflict in the application of fundamental principles.
- When initiating either a formal or informal conflict resolution process, Members should consider the following, either individually or together with others, as part of the resolution process:
Ethical issues involved;
- Fundamental principles related to the matter in question;
- Established internal procedures; and
- Alternative courses of action.
Having considered these issues, Members should determine the appropriate course of action that is consistent with the fundamental principles identified. The Members should also weigh the consequences of each possible course of action. If the matter remains unresolved, the IPMP Members should consult with other appropriate persons within the firm or employing organization for help in obtaining resolution.
- Where a matter involves a conflict with, or within, an organization, a IPMP Members should also consider consulting with those charged with governance of the organization, such as the board of directors or the audit committee.
- It may be in the best interests of the IPMP Members to document the substance of the issue and details of any discussions held or decisions taken, concerning that issue.
- If a significant conflict cannot be resolved, a IPMP Members may wish to obtain professional advice from the relevant professional body or legal advisors, and thereby obtain guidance on ethical issues without breaching confidentiality. For example, a IPMP Members may have encountered a fraud, the reporting of which could breach the IPMP Members responsibility to respect confidentiality. The IPMP Members should consider obtaining legal advice to determine whether there is a requirement to report.
- If, after exhausting all relevant possibilities, the ethical conflict remains unresolved, a IPMP Members should, where possible, refuse to remain associated with the matter creating the conflict. The Members may determine that, in the circumstances, it is appropriate to withdraw from the engagement team∗ or specific assignment, or to resign altogether from the engagement, the firm or the employing organization