Conflict Avoidance, Management and Dispute Flashcards
How do you deal with personal conflict? Example?
Important to not brush it under the carpet.
Be Proactive
Designing of the Comps DB
I wanted to design the building pro forma in a certain way but the other person involved wanted to do it differently.
Did not get resolved.
Came back and proactively discussed
Came to a compromise.
How do you check for a conflict?
We run a report both regarding the client and within the radius of the building on our client management software.
This then alerts us to other service lines and their jobs.
What is a conflict
Be perceived lacking in integrity
Render you unable to advise and represent your client independently and objectively
How do you manage a conflict at work? Example?
establish if it renders my ability to advise and represent your client independently and objectively.
In this case a conflict arose.
Investment team client is a national supermarket operator and was selling a supermarket.
I got asked to quote for a job on development valuation that was on the site of that supermarket. I declined the instruction as there was a clear conflict of interest as could not represent my client objectively and independently.
AY conflict of interest produce?
- To identify a conflict
- Managing a conflict - evaluate your scenario with a series of questions. such as can we act objectively.
- Record Conflict
- It is possible to acquire informed consent?
What are the principles of conflicts of interest ?
In the RICS Conflicts of Interest Professional statement there is also guidance on general principles on how to adhere to the professional statement.
- Prevent anything getting in the way of you advising a client independently and objectively.
- Consider if my action would cause embarrassment to the profession
- Consider my proposed course of action to imply a lack of integrity
If a conflict exists, what should you consider proceeding with the work?
Should only proceed if you a have acquired informed consent and all relevant clients interests will be served by you doing the work.
What does the RICS Conflict of Interest 2017 detail?
- An RICS member must not advise a client if there is or a significant risk of a Conflict of Interest. Apart from if the individual acquire prior informed consent.
- Must keep confidential information confidential
- RICS regulated firms must have in place effective system and controls
- 3 Main conflicts - Party, Personal, Confidential Info
When might a dispute resolution arise?
conflict of opinions
differing interpretations of contracts
What are the three main processes available to resolve disputes?
Negotiation - between the parties themselves
Mediation or Conciliation- Third party intervention that assists to resolve difficulties, non binding decision.
Adjudicative process - An outcome determined by a third party imposes binding position.
What is Alternative Dispute Resolution (ADR)?
ways of resolving disputes between consumers and traders that don’t involve going to court.
What are some of the advantages to ADR?
Speed Informal - not in court Greater opportunity to negotiate Costs less than court Quality of decision making - surveyor rather than a judge
What forms of ADR are there?
Mediation Arbitration Adjudication Independent expert witness Acting as an expert witness
What does the Mediation technique involve? Positives?
A neutral mediator who facilitates discussions between two parties to see if a solution can be found
Mediator has no decision making authority
Informal and confidential
What is arbitration?
This involves an appointment of an arbitrator in agreement by both parties to make a binding decision on a dispute.
Parties are bound by the decision
Often specialist knowledge in an area
Fast, cost effective and confidential solution
