Ethical Standards of Contract Management

by | Mar 8, 2023 | ethics

Please write 250 words
Review the following information on ethics:
• Link 1 https://www.cbsnews.com/news/cashing-in-for-profit/
• Link 2: https://www.gao.gov/new.items/d05436t.pdf (Some Browsers may have trouble with this link. The Airforce GAO Paper is also attached to the forum if you have trouble.)
• Access this link for the NCMA code of ethics https://www.ncmahq.org/about/leadership/code-of-ethics
• Here is a link to the PMI code of ethics (PMI certifies program managers) https://www.pmi.org/about/ethics/resources/articles
• Here is a link to Government Fraud, Waste, Mismanagement, Misconduct regarding SBA Programs https://www.sba.gov/partners/contracting-officials/contract-administration/report-fraud-waste-abuse
After reviewing, discuss what you learned about ethics and how it impacts contracts and contract management.
Also, consider any other recent news that you have heard about in this area as this continues to be a hot current topic with possible abuses such as government officials using private jets or using government planes rather than using commercial airlines.

 

 

 

 

Sample Solution

After reviewing the information on ethics, I learned that ethical considerations are an essential part of contracts and contract management. All parties involved in these transactions must adhere to a certain level of morality, otherwise there can be significant consequences for all involved. For example, the GAO paper discussed how Air Force officials failed to properly manage their resources due to improper actions and lack of oversight which eventually led to millions of taxpayer dollars being wasted on unnecessary expenditures. Similarly, the article from CBS News highlighted how some private companies have abused their positions by taking advantage of unsuspecting customers who were not informed about the true costs associated with their services.

 

Sample Solution

After reviewing the information on ethics, I learned that ethical considerations are an essential part of contracts and contract management. All parties involved in these transactions must adhere to a certain level of morality, otherwise there can be significant consequences for all involved. For example, the GAO paper discussed how Air Force officials failed to properly manage their resources due to improper actions and lack of oversight which eventually led to millions of taxpayer dollars being wasted on unnecessary expenditures. Similarly, the article from CBS News highlighted how some private companies have abused their positions by taking advantage of unsuspecting customers who were not informed about the true costs associated with their services.

 

It is also important to note that professional organizations such as PMI and NCMA have established code-of-ethics guidelines which serve as standards for members when working within areas such as contracting or program management; this helps ensure that individuals involved in such activities adhere to proper ethical practices while encouraging transparency concerning any potential misconduct that could occur during negotiations or other dealings between parties. Finally, even though government fraudulence is much less common than it used to be due to agencies like SBA introducing stronger measures against possible abuses recently; it still remains a major issue for lawmakers and those trying ensure public funds are used appropriately moving forward.

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