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Conflict of interest situation

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Alankar Karpe Project and program management, Speaker and mentor | Wipro Bangalore, India
What tips / advice do you have for practitioners to help them recognize they are facing a conflict of interest situation? What flags they should be looking for?
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Liana Underwood National Capital Region, Va, United States
I took conflict of interest to be more geared towards when contractors are working with a prime and other contractors. Some information can come from the Prime, that could affect the fairness of the work the contractor is receiving and would be considered unlawful. The best, most ethical way to approach this is to discretely call out the information when it is received and self report to ensure the contract integrity is maintained and all parties are aware of the inadvertent slip in information that resulting in the conflict of interest.
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Michael O'Brochta, PMI-ACP, PMP CEO| Zozer inc. Roanoke, Va, United States
Information I have reviewed supports the opinion that conflicts of interest are quite common. The annual PMI Membership Survey for 2012 found that 29% of those responding reported witnessing “self-serving actions at the expense of employer, client, peers, or the public;” in other words, conflicts of interest. Additionally the PMI Code of Ethics and Professional Conduct states that: "Research with practitioners indicated that the subject of conflicts of interest is one of the most challenging faced by our profession. One of the biggest problems practitioners report is not recognizing when we have conflicted loyalties and recognizing when we are inadvertently placing ourselves or others in a conflict of interest situation."
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