Conflict Avoidance, Management and Dispute Resolution Flashcards
Could you please provide an overview of the RICS Global Professional Standard on Conflicts of Interest
Mandatory statement that states members must not advise or represent a client where doing so would involve a conflict of interest or significant risk of a COI other than when informed consent has been received by those affected.
What is a conflict of interest?
A COI arises when a member of firms independence and impartiality is threatened due to the existence of a conflict between parties. This can be a financial interest, personal interest, commercial relationship.
What is conflict avoidance?
Conflict avoidance is when you do not accept the instruction.
What is conflict management?
When the instruction is accepted and steps are agreed and implemented in order to manage the conflict such as information barrier.
What management techniques can be used to appropriately manage a conflict?
Information barriers, these must be robust enough to avoid information passing between parties. The information barriers must be physically separated to some level.
Why are transparency and openness important when dealing with a potential conflict?
It is important to be transparent and open with your client when advising them of a potential conflict as early as possible.
What is a negotiation when relevant to dispute resolution?
Negotiation is a dialogue between two or more parties to resolve points of difference. It is dependent on there being common ground between the parties already.
What is Mediation when relevant to dispute resolution?
Mediation is a type of assisted negotiation. During mediation, parties obtain the help of a neutral third party (the mediator) to help them resolve the dispute.
What is Adjudication when relevant to dispute resolution?
Adjudication is the legal process by which an arbiter or judge reviews evidence and argumentation.
What is Arbitration when relevant to dispute resolution?
Arbitration is more formal than negotiation, mediation, or conciliation, and can look more like litigation. Parties submit their dispute to an arbitrator who reviews and provides a decision. Construction only.
What is litigation when relevant to dispute resolution?
Litigation is the process of taking a dispute to a court of law.
What are the common causes of disputes within construction projects?
Timely payment, Extension of Times, Awarding of PC.
How do you go about dispute avoidance as a project manager?
Initially I try to manage the project to minimise contention and avoid disputes. I would clearly identify items required to achieve PC for example.
Regular dialogue with all team members.
If a dispute arose, how would you manage this as a project manager?
Try and act as the mediator between the two parties initially. If the complexity was beyond my realm of comfort then I would defer to my client legal advisor for advice on the matter
What are the different types of conflict of interest
- party interest
- own interest
- confidential interest
