2021-05-17 11:28:36 Time Tracking & Management English Find out what PMP stands for and the essential components of the code of professional conduct when managing projects and businesses. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2021/05/pmp-code-conduct-qbo-ca-desktop.jpeg https://quickbooks.intuit.com/ca/resources/time-tracking/what-is-the-pmp-code-of-professional-conduct/ What is the PMP Code of Professional Conduct?

What is the PMP Code of Professional Conduct?

5 min read

Many business owners and management teams will generally oversee projects and project teams. These individuals typically obtain some training at their work or gain real-world experience through years of working in a career.

However, individuals can also partake in specialized training and earn certification in project management that will provide them with the knowledge and technical skills to successfully and efficiently manage project teams and responsibilities. To achieve this PMP title, one must also adhere to the strict code of ethics surrounding project management and reporting.

Here’s what you need to know about the PMP Code of Professional Conduct.

What is PMP?

PMP stands for Project Management Professional. A project management professional is an individual who has obtained the proper training and certification to manage and oversee corporate and institutional projects.

It is the Project Management Institute (PMI) which trains and certifies individuals as PMPs. This independent organization provides in-depth training and development skills for professionals to use when managing projects, project teams, and sensitive data and issues. To meet the mandatory standards of this project management profession, individuals must pass the PMP exam to become certified.

Just like higher education qualifications and industry-specific certifications, a PMP title can offer greater opportunities and career perspectives for those who earn one. Certified project management professionals report earning up to 25% more than their non-certified counterparts. Passing the exam also means you become a better practitioner of this professional conduct.

If you’re interested in this certification and exam process, you can learn more about becoming a project management professional.

Code of Professional Conduct Requirements

Part of becoming a PMP and passing the exam entails adherence to the PMI’s Project Management Professional Code of Professional Conduct. It is the individuals’ personal and professional duty to follow this ethical code of conduct as a project management professional working on the job.

The purpose of the PMI code of ethics is to outline the ethical responsibility of project management practitioners when spearheading projects and managing project teams. To read the code in full, download the Code of Ethics and Professional Conduct.

Overall, the greatest reasonability and duty of a PMP is to ensure the project’s integrity and that no facet of the project is compromised. Below are the various parts that make up this ethics and professional conduct code, dictating how PMPs must act on the job and in multiple situations to ensure all aspects of a project go uncompromised.

Professional responsibility

As a PMP, it is their professional responsibility to ensure that all facets of the PMI code of ethics are followed, and the proper channels are used when managing projects and team members. Such professional responsibility also covers the way project managers speak to and treat their team members.

Respect, fairness, and honesty are all parts of this Code of Conduct, and as such, everyone is entitled to a respectful, fair, and honest project lead. PMPs should not act in an abusive nature to their subordinates and must be impartial and just in their decision making. They must conduct themselves in a professional manner while following ethical guidelines in all matters.

Conflict of interest

PMPs, as well as any other professional and ethical employee, should avoid conflicts of interest. A conflict of interest refers to a situation where an individual or entity is involved in multiple activities of interest- business-related or otherwise- that in serving one part, they could actively be working against another.

A conflict of interest can arise, for example, if a PMP is placed on a project only to discover they are personally connected to the company by holding a large percentage of their market stock. Learning of this situation, they must inform the proper channel of this clash of interest, as it is their duty to do so.

Ignoring or intentionally overlooking a clash of interests directly goes against the purpose of the code. A PMP must proactively disclose the full extent of any conflicts to their employer and the company’s stakeholders. Only after reporting this information and receiving direct approval from those involved can a PMP continue with a project.

Truthful reporting

A certified project management practitioner must report all information and project findings truthfully and honestly. Truthful reporting is two-fold, as the PMP must divulge their personal experience, certifications, and education truthfully to their employers. They should not lie about their background to obtain a job.

It is also the professional project manager’s responsibility to enact truthful reporting in all project instances. All information at the PMP’s disposal must be divulged to the appropriate clients, stakeholders, project sponsors, and the public. The Project Management Institute and PMP exam stress the importance of honest reporting in all facets of the project.

Laws and regulations compliance

Truthful reporting not only covers the need to report information honestly but also refers to reporting violations within the workforce when they happen. The laws and regulation compliance aspect of the code of conduct asserts that all certified PMPs must uphold all policies, rules, regulations, and laws surrounding work and professional activities.

Part of this compliance to the PMI Code of Ethics covers the obligation to report violations in the workforce, whether in reference to non-compliance, violation of labour laws, or other unlawful and criminal behaviour. Such unethical and illegal activity must be reported to the proper channels, and the PMP must have substantiated evidence to back up this claim.

Confidential information

Part of the job of the project management community is their responsibility to protect confidential information. Many large projects will deal with sensitive and private data that cannot be disclosed to third parties. PMPs are ethically obliged to keep this information secure and protected.

As many PMPs are brought onboard as consultants to larger firms and organizations, they will deal heavily with this type of data. Generally, when a contract begins, they will need to sign a nondisclosure agreement making it legally binding. However, some projects won’t require this legal document, meaning the PMP is ethically responsible for protecting their clients’ company data and intellectual property as upheld through the Code of Conduct.

Professional Software for Project Management

Overall, the PMI code of ethics dictates that project management professionals must uphold the integrity of their work, and treat their team with respect, fairness, and honesty. Even without a project management professional certification, it is essential to adhere to an ethical code of conduct within your business and when managing employees.

Consider using professional software like QuickBooks Time to help with this responsibility. Using employee scheduling and project tracking software can help you keep up to date on pertinent information without fear of missing anything. It also allows your business to create a professional, fair, and respectful work environment for all of your employees. Try it for free today and get your next project underway like a project management professional.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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