Budget Analyst

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“Budget Analyst related Frequently Asked Questions by expert members with job experience as Budget Analyst. These questions and answers will help you strengthen your technical skills, prepare for the new job interview and quickly revise your concepts”



51 Budget Analyst Questions And Answers

42⟩ Tell me how do you avoid scope creep?

Scope creep is a hindrance to the project’s success and could be avoided by:

☛ Clearly document the scope of the project.

☛ Following proper change management.

☛ Informing the effects of change to the affected parties before making a change.

☛ Documenting the new requirements in the project log.

☛ Refrain from adding additional features to the existing functionalities (also called Gold Plating)

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45⟩ Tell me what do you know about scope creep?

Scope creep, also known as requirement creep is a term that denotes uncontrolled changes/deviation in the project’s scope without an increase in the other resources (schedule, budget) of the project.

Scope creep is a risk to the project and is usually caused by poor project management, improper documentation of project’s requirements and poor communication between the project’s stakeholders.

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49⟩ Tell me an example of how you built consensus within your team?

An effective manager gains buy-in from his staff so that everyone experiences success, both individually and as a group. To respond to this question, you could speak about one of your experiences in morale building, creating incentive programs, or using your fine management style to increase cooperation among your staff.

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50⟩ Explain about a creative approach you used to increase profits?

There are two ways to increase profits: decrease spending and increase revenue. This question is designed to find out if you’re going to bring new profit-making ideas to the company, especially ones that work. So tell about a time when you either cut costs or drove up revenues.

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51⟩ Explain me what is your requirement elicitation strategy?

One can take advantage of direct collaboration with client and have facilitated workshops, interviews and observe the end users. In conjunction, we can use techniques that provide us with more precise information like prototype and scenario building.

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