Importance Of Values In Project Management

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The main area of study selected for this study is ethics and the application of one of its principles, i.e. values in project management framework and it is evident from the conclusions of different studies used for this paper. All in all, after the comprehensive search results, 48 outcomes were realized and out of these 48 outcomes, only 10 were finally found to be actually relevant to the theme of this study. To facilitate the purpose of this paper, 4 peer reviewed journals were used and included in the final review. Sidhu, (2012) in Value based leadership and international project management discusses that value is at the core of ethics within the context of project management. He also insists that values are intrinsically specific based on different cultures. Values, as defined by him, are deep rooted beliefs and feelings which hold importance to a personal, society or culture. It can be ascertained that the subject related to values is inherent in fields such as sociology, anthropology and psychology, they are out of the scope of this paper and it is to be noted that values are shaped by external environmental factors as well including but not limited to world events, society and culture. The author further argues that there is a significant role being played by values in the global business landscape as well. In such a scenario, firms are on a continuous lookout for new markets, more production, low cost and more efficiency in producing goods and services. Also, to carry and fulfil the objectives of an organization, a leader is sought who can motivate the team into achieving those objectives (Sidhu, 2012). A leader will have to come across certain value systems through employees or suppliers, etc which will differ from thei... ... middle of paper ... ...val, 2012). The author merely notes down principles to be followed by a Project manager to successfully implement ethical principles while running a project. However, the author has given general application of ethics in Project Management. The general application of ethics includes fraud in science; data fabrication; data fabrication; plagiarism; falsification and conflict of interest. By using the case study of Innovative mechatronic systems intended to micro-hydro-centrals for efficient exploitation of the hydrologic potential in isolated zones. The case study evaluation also highlighted only general application of ethics in project management including wrong estimation, deliberate wrong statistics, fabrication of results, etc. There is no specific focus on one element of ethics and no contemporary literature has been used to provide evidence to the claims made.

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