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The importance of ethical and professional conduct cannot be overemphasized. This is particularly true for the field of project management. According to the Project Management Institute (PMI) (2016), project management professionals have a responsibility to make “the best possible decisions concerning people, resources and the environment.” Ethical decisions reduce risk, ensure positive outcomes, build trust, and influence long term success. Based on this premise, procurement practitioners, who comprise crucial players in the project management field, must constantly act ethically. This paper briefly explains the development of a code of ethics for project procurement professionals. Attention is specifically paid to best practices from other industries and key decisions made during the development of the code. The developed code is attached in the appendix.
The code was developed by referring to the PMI (2016) code of ethics for project management professionals as well as codes of ethics for procurement professionals in various industries. Intended for PMI members as well as non-PMI members with PMI certification, certification applicants, and PMI volunteers, the PMI code of ethics for project management professionals identifies four major values that should drive the conduct of project management practitioners: responsibility, respect, honesty, and fairness. Though these guidelines are aimed at project management professionals in general, they are useful for practitioners specifically in the area of procurement.
Various industries also provide ethical and professional guidelines for procurement professionals. The Chartered Institute of Procurement and Supply (CIPS) (2017), for instance, encourages procurement professionals to demonstrate integrity, accountability, professionalism, proficiency, and legal compliance in every decision they make. The Supply Chain Management Association (SCMA) (2016) also provides ethical guidelines for procurement professionals. SCMA’s code of conduct recognizes the significance of procurement professionals depicting ethical conduct, especially given their integral role in the supply chain. The code emphasizes, among other aspects, avoidance of conflict interest, protection of sensitive information, social and environmental responsibility, and professional competency. In the education sector, codes of ethics for procurement professionals encourage consideration of the organization’s policies, rejection of personal gifts, honesty in...
The purpose of the attached code of ethics is to promote the integrity of the procurement profession. Procurement management is one of the most important knowledge areas of project management. Accordingly, procurement activities must be carried out in an ethical manner to guarantee success in not only procurement processes, but also the overall project. Targeted at PMI members and non-members with recognizable procurement certifications, the code will help procurement professionals become practitioners at both the individual and collective level.
On the whole, a robust code of ethics for procurement practitioners is imperative. The attached code of ethics provides ethical guidelines for the conduct of procurement professionals. As elements of the broader field of project management, procurement professionals play an integral role in ensuring project success. The critical nature of their role warrants ethical conduct. From procurement planning and contractor selection to contract administration and closure, procurement practitioners must demonstrate ethical conduct. They must act with professionalism, integrity, and accountability as their decisions affect not only internal stakeholders, but also a string of stakeholders outside the project organization.
Code of Ethics Over a period of time organizations around the world have realized the need to emphasis on making ethics as an integral part of their overall business strategy. While organizational activities in a corporate sector are carried out primarily from a commercial and a non-welfare point-of-view, lately management theorists and researchers have suggested that organizations that are socially responsible and ethically conscious are likely to have a far better
"Cancellation, in particular, can have a profound and lasting affect on the organization and its employees." (Hormozi, 2000) Interdependence of Department in Organization The following statement is an excerpt from the work entitled "Knowledge Worker Team Effectiveness: The Role of Autonomy, interdependence, team development, and contextual support variables" written by Brian D. Janz, Jason a. Colquitt, Raymond a. Noe: Those studies that have examined teams of knowledge workers have employed samples of
Managing Professionals in Virtual Environment As technology has evolved, the reality of virtual organizations has begun to take hold in a variety of industries. It is now commonplace for employees to work, at least in part, from offsite. Telecommuting is a reality that has allowed companies to reduce costs, become more competitive, and facilitate happier more productive employees. Virtual employees, or "telework is one of the most radical departures from standard
Ethics, Corporate Governance and Company Social Responsibility Information that is essential to share includes financial performance, business strategy and overall company actions (Pfeffer, 1998). Sharing this information gives the employees the power to evaluate their performance and help them make the right decisions on how they can improve it. This is a simple and very straightforward practice but most companies are still apprehensive about this practice. One cause for this is
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Aside from the previously mentioned policies, the Intel ethic code also contains reference to intellectual property, gratuities, reciprocity, publicity, small and minority suppliers, controlled substances, environment, health and safety. The intellectual property right protection policy states the fact that Intel completely respects the rights of all business partners, suppliers and competitor companies. However, the publicity policy mentions that business partners are denied the right to sell their own products by