What are some potential ethical risks project managers need to be aware of? Select all that apply.1 pointFraudulent checksBribery or corruptionInteraction with state owned entitiesSole-supplier sourcing
Question
What are some potential ethical risks project managers need to be aware of? Select all that apply.1 pointFraudulent checksBribery or corruptionInteraction with state owned entitiesSole-supplier sourcing
Solution
Project managers need to be aware of several potential ethical risks. Here are the ones that apply from your list:
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Fraudulent checks: This is an ethical risk as it involves dishonesty and can lead to legal consequences. It's important for project managers to ensure all financial transactions are legitimate and transparent.
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Bribery or corruption: This is a major ethical risk. Engaging in bribery or corruption can severely damage a company's reputation and can also lead to legal consequences.
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Interaction with state-owned entities: This can be an ethical risk depending on the nature of the interaction. If the interaction involves any form of corruption or unethical practices, it's a risk. Project managers should ensure all interactions are legal and ethical.
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Sole-supplier sourcing: This can be an ethical risk if the sole supplier is chosen based on favoritism or bribery, rather than on the quality or cost-effectiveness of their products/services. It's important for project managers to ensure all sourcing decisions are made ethically and fairly.
Similar Questions
Which of the following should a project manager do to ensure an ethical procurement?1 pointSpeak to the press if they inquire about product sourcing methods.Make sure that various stakeholders adhere to governmental policies and adequate corporate social responsibility.Work with government officials as long as they seem trustworthy.Alter vendor contracts based upon what you believe is most ethical for the company.3.Question 3
b) Discuss the importance of Ethics in project management and why Project managers often face ethical dilemmas
Why are ethical considerations so likely to be involved in project management?Multiple choice question.Project team members want to get their work done as quickly as possible.Projects leave a lot of room for judgment and interpretation.External suppliers have different cultures than the project manager's organization.
Manage project risks
As a project manager, you’re sourcing a new vendor. The vendor is located in a country that has a history of corruption in your industry. You’ve had a great initial discussion with the vendor and you don’t want to discriminate against it just because of the government’s and other companies’ history of unethical practices. In 2-3 sentences, describe the steps you should take to avoid any potential ethical traps.
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