Why is ethics essential in Project Management?

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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