If you took a risk, tell me about it.

Question Analysis

This question is designed to evaluate your ability to take calculated risks, which can be critical in many job roles. The interviewer is interested in understanding your decision-making process, your assessment of potential outcomes, your initiative, and how you handle uncertain situations. It's important to demonstrate that your risk-taking is thoughtful and informed, rather than reckless.

Answer

Situation: In my previous role as a project manager at XYZ Company, we were tasked with launching a new product line within a tight deadline. The project faced significant delays due to supplier issues, which threatened our timeline and budget.

Task: As the project lead, my responsibility was to ensure the successful launch of the product line on time, despite these challenges. After assessing the situation, I realized that sticking with our current supplier would jeopardize our goals.

Action: I decided to take the risk of switching to a new supplier who promised faster delivery and better terms. This involved renegotiating contracts and reallocating part of our budget to cover potential transition costs. I communicated transparently with my team and stakeholders, outlining the potential benefits and risks involved in this decision.

Result: The new supplier delivered as promised, allowing us to meet our launch deadline. The product line was launched successfully, resulting in a 20% increase in sales in the first quarter. This decision not only salvaged the project but also strengthened our supplier network for future projects.

By using the STAR method, I demonstrated a strategic approach to risk-taking, highlighting the positive outcome of my decision.