Tell me about a time you had to make a decision without all the information you needed.

Making decisions can be incredibly difficult, even when we have all of the information. Countless variables come into play in the corporate/professional world, and we cannot predict the outcome with 100% accuracy. Furthermore, we often have to act quickly, because if we do not take action, one of our competitors will, and we will lose the battle for the client or even our place in the market.

"One time, I had to decide on a budget for a project that had a lot of unknown variables, and I wasn't sure how we'd proceed while reaching the internal milestones. It was a unique environmental project that we had never worked on before, and I could not use historical data to forecast expenses. We needed a budget in place to start the project. I did some research, ran some numbers, and eventually came up with the rough number. It was approved by the management team, and we started the work. In the end, we didn't have enough funds and had to extend the budget. Needless to say, my superiors weren't happy about it, but what could we do? I learned my lesson, and from then on, I made more accurate budget estimations by adding 10% for undetermined tasks, client requests, and interruptions in the schedule."