When have you taken a risk?

Question Analysis

This question is designed to assess your ability to take calculated risks, your decision-making process, and how you handle uncertainty. Employers often look for candidates who are willing to step out of their comfort zones to achieve positive outcomes. The interviewer is interested in understanding the context of the risk, the decision-making process you followed, the actions you took, and the results of those actions. This question is a behavioral question, and you should use the STAR (Situation, Task, Action, Result) method to structure your response.

Answer

Situation: In my previous role as a project manager at ABC Corporation, we were approaching the deadline for a major project. Due to unforeseen challenges, we were behind schedule, and there was a risk of not meeting the client’s expectations.

Task: My task was to ensure the project was completed on time while maintaining the quality standards expected by the client. I recognized that we needed to take a calculated risk to meet the deadline.

Action: I proposed reallocating resources from another project that was ahead of schedule. This decision involved a risk because it could have delayed the other project if unexpected issues arose. I consulted with the team leads of both projects and conducted a risk assessment to understand the potential impact. After gaining their agreement, I implemented the reallocation plan and closely monitored progress.

Result: As a result of this decision, we were able to complete the project on time, delighting the client and securing a follow-up contract worth $500,000. Additionally, the other project continued to progress without any significant delays. This experience taught me the importance of strategic risk-taking and collaboration in achieving organizational goals.