Conflict of Interest

When it comes to projects, especially ones that involve monetary or political interest, there is a higher likelihood that members of the project will try to put themselves into positions that only benefit themselves. Conflicts of interest arise when someone within the organization has a relationship that can influence decision or actions that alter the process. Mitigating conflicts of interest are extremely important so that the integrity of the project maintains. This also ensures that the best interest of the project is being put first, rather than a certain individual.

Project managers should be aware of all of their employees and stakeholders, constantly recognizing their actions and situations that could affect the project’s goals. The manager should also be aware of their own actions and motives, ensuring that they are not putting their own interests above the project. Transparent communication among stakeholders and team members is one of the essential pieces to mitigating conflicts of interest. When team members acknowledge their potential conflicts openly, trust is formed and shows that they are seriously committed to the project.

In certain cases, a conflict of interest may be something that cannot be avoided due to the state of a project. In these cases, clarity and transparency become the most important aspect of the situation. When this occurs, managers must carefully document all the factors in the case. When a conflict of interest is unavoidable, teammates should come together to evaluate the future progression of the project.