Code of ethics, trade-off, potential risks

1. Summarize the importance of adhering to a professional code of ethics.
2. What is meant by a trade-off? Who are the major players in performing trade-offs?
3. What are the methods, tools, and capabilities that will allow the project manager to “sense” potential risks before they are fully developed?
4. What kinds of changes can be made to contracts and procurement documents and how should they be managed?
5. What ethical considerations are involved in contracting and procurement?
6. When changes are made to schedule, scope, or resource allocation, how should they be reflected in the contract? What happens when contract adjustments are not appropriately made? What type of contract is used most often in your environment and why?

Please provide all the applicable references.

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