Description
Can you discuss a time when you had to inform a stakeholder that a project was overbudget? How did you handle that conversation?
1. Communication : Assessing the candidate's ability to convey difficult information clearly and empathetically.
2. Problem Solving : Evaluating the candidate's approach to addressing budgetary challenges and mitigating financial risks.
3. Stakeholder Management : Determining how well the candidate can manage stakeholder expectations and maintain trust.
4. Transparency : Understanding the importance the candidate places on honesty and openness in financial reporting.
1. Communication Assessment : Identifying if the candidate can communicate effectively under challenging circumstances.
2. Judgment Evaluation : Determining how the candidate exercises judgment when faced with financial discrepancies.
3. Ethics and Integrity Evaluation : Understanding the candidate's commitment to ethical standards in financial reporting.
4. Conflict Management : Assessing the candidate's ability to manage conflicts and negotiate where necessary when delivering bad news.
1. Prepare in advance : Suggest considering the analysis that led to the realization that the budget is over, and how you plan to address the situation before meeting with the stakeholder.
2. Consider timing and setting : Recommend thinking about the appropriate time and place to deliver the news, ensuring a private and professional environment.
3. Offer solutions : Advise that when delivering such news, it's helpful to also present potential remedies or action plans to mitigate the issue.