The following text pertains to the Code of  Professional AICE Ethics, which has been approved by the Board of Directors in accordance with the mandate given in the Special Assembly on 22 January 2008. The text is part of a key document that must be recognized and respected by those who have received professional certification.

The respect and protection of the Code of Professional Ethics by all who work in this field is important in the promotion of Total Cost Management.

Professional Ethics Code of the Italian Association for Total Cost Management

1. Reference Documents:

• Code of Professional Ethics in the field of large construction projects, which is annexed to the AICE constitutional act (23_^rd  April 1979).
• ICEC Codes of Ethics for Cost Engineers, Quantity Surveyors, and Project Managers (Adopted by the ICEC Boar of Executives, 21st July 2000).

 2. Applicability:

This Code of Professional Ethics applies to each and every members,  of the Italian Association of Economic Engineering and in particular to the members certified as a Specialist Practitioner in Economic Engineering; all are defined below as "professionals", and limited to professional activity.

 3. Basic criteria :

• Professionals must stay up-to-date on developments in the disciplines that are part of related to Economic Engineering to be able to guarantee leading edge professional services which conform to the criteria or professional practice required. They should continually strive to improve the competence and the prestige of the profession;
• professionals should conduct their work with fairness, impartiality and integrity in compliance with professional ethics and applicable law; 
• Professionals will offer only those services in their area of competence;
• Professionals will use their knowledge and expertise for the welfare of humanity; any public statements will be made in an objective and truthful way.

Professionals are bound to the obligation of loyalty and, if agreed upon confidentiality, to their client. However, this is limited by the obligation to comply with current legislation and the code of professional ethics. If incompatibilities arise between the obligation of loyalty to the client and professional ethics, the professional shall first inform the client and if necessary decline the assignment unless there is an alternative, obligations under the law.

If the professional must turn down an assignment because of incompatibility the obligation for confidentiality remains intact unless expressly stated by law.

4. Public Relations :

• the professional must strive to promote the prestige of the profession;
• they must give particular attention to the safety , health and welfare of the public while carrying out their professional duties;
• they must strive to help the public understand and appreciate economic engineering and its achievements, . Professionals will also fight against untrue, unfounded or exaggerated information with regards to economic engineering;
• they will be dignified and modest in explaining their work and its merits, uphold the honour and dignity of their profession, refrain from self-praising advertising;
• professionals will express opinions about economic  engineering only when based on and grounded in knowledge and honest conviction;
• The professional who makes an affirmation, criticism will set out a clear indication of the person on whose behalf this is made.

5. Relations with Employers and Clients:

• the professional will act as a faithful agent or trustee for each employer or client;
• They will act fairly and justly among the various stakeholders, while protecting the interests of his employer or client and will not accept either direct or indirect compensations or under any circumstances;
• They will inform their employer or client if they have any financial interest in any vendor or contractor, or in any invention, machine or plant where they are asked to be involved in project work.  They will not allow this interest to influence their decisions about the work they are to perform;
• The professional will indicate to their employer or client the harmful consequences that could occur if their advice is not taken;
• They will take on only those assignments for which they are qualified, and notify his employer or client if they need to hire specialists.  The professional will work with these specialists so that the interests of the employer or client are safeguarded;
• They will not reveal information about the business or the technical processes of any past or present employer or client without their consent;
• They will not accept compensation - financial or otherwise - from more than one party for the same service, or for other services related to the same work, without the consent of all parties concerned.

6. Relationship with colleagues :

• The professional will assure that those who carried out or contributed to a roject receives recognition for said work;
• They will provide comprehensive information on working conditions and on his work relationship with an employed aspiring engineer, and after they are will keep them informed of any changes to those conditions;
• They will maintain the principle of appropriate and adequate compensation for those working in Total Cost Management, including those who have subordinated tasks;
• The professional will not maliciously harm the reputation, prospects, or professional activities of another professional, but if they have evidence that another engineer has not been ethical, or has been illegal or unjust in their activities, should warn the competent authorities unless they consider that this could be likely to derive greater damage and prejudice than the obligations provided for by law;
• They will cooperate in the advancement of the profession by exchanging information and experiences with colleagues and students, and contributing to public media, to the efforts of companies and schools of engineering and scientific applications.