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Conflict of Interest: As a project management professional, how do you deal with conflict of interest when it is disclosed voluntarily by a colleague?

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Amany Nuseibeh Speaker, Global Leader | Optimal Consulting Sydney, Nsw, Australia
Conflict of Interest: As a project management professional, how do you deal with conflict of interest when it is disclosed voluntarily by a colleague? Any real-life situations that you are happy to share?
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Gary Hamilton Bristol, Tn, United States
This is a difficult situation for many professionals, that unfortunately, is an all too real scenario. As many others have stated, if the peer is disclosing this to you, they are showing a sign of trust. It is important to ensure the peer has all the information on what resources are available, and what ramification/options may be.

However, similar to how Peter mentioned, "you are a part of the story", you will need to make sure you, as a professional also handle the knowing of this situation correctly. Knowing, and failing to act, can, it itself, violate your own ethics and/or company policy. In my experience, if the peer trusted you enough to share, they know you will always do the right thing, even if it is not a favorable one, that may include reporting having knowledge of the COI to the appropriate parties.
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Amany Nuseibeh Speaker, Global Leader | Optimal Consulting Sydney, Nsw, Australia
Thank you all for these great contributions. As all of you stated, the "trust" element is very important, as we develop close friendships with our work colleagues, they trust us with their secrets, their weaknesses as well as rely on us supporting their decisions or seek our advice in critical situations. Our ethical values and professional behaviours are getting "tested". How do we gently go about advising the person to take the right step, the most honourable action, bringing to their attention the policies, the rules and the alternative options? Would us stepping into the situation be seen as another form of COI?
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