Interview Question: How Do You Deal With Budget Problems, Like Overruns?
The budget is the Holy of Holies of management. Any budget questions should be treated like land mines. If you're handling budgets, be prepared for a long session on everything you know. There are so many subjects and questions we can't go through all the possibilities, but the problem solving issues are important. Budgets are based on projections. Costs are estimated, money is allocated, and in theory contingency plans are supposed to cope with the issues when the costs increase.