Ernst & Young Project Trainee Interview Questions and Answers

Q1. Interviewer asked to present current organizations confidential information
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Q2. Why you applied for this job
Ans. 
I applied for this job because of my passion for leading teams and delivering successful projects.
• I have a strong background in project management and enjoy the challenge of overseeing complex projects.

• I am excited about the opportunity to work with a talented team and contribute to the company's success.

• I believe my skills and experience align well with the requirements of the role, and I am eager to make a positive i
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Q3. Questions related to past experience
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Q1. Introduce yourself & roles
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I am an experienced Project Manager with a background in leading cross-functional teams to successful project completion.
• Led multiple projects from initiation to closure, ensuring deliverables are met on time and within budget

• Managed stakeholder expectations and communication throughout project lifecycle

• Utilized project management tools such as Gantt charts, risk registers, and status reports

• Facilitated team meetings a...read more
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Q2. What is Project phases
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Project phases are distinct stages in a project's lifecycle, each with specific goals and deliverables.
• Initiation: Define project scope, objectives, and stakeholders.

• Planning: Develop project plan, schedule, and budget.

• Execution: Implement project plan and deliver project deliverables.

• Monitoring and Controlling: Track project progress and make necessary adjustments.

• Closing: Finalize project deliverables and hand off to...read more
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Q1. Tell me about the job role ?
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The job role of a Project Coordinator involves overseeing and coordinating various aspects of a project to ensure its successful completion.
• Responsible for creating project plans and schedules

• Coordinate with team members and stakeholders to assign tasks and track progress

• Manage project budget and resources

• Ensure project milestones are met and deliverables are completed on time

• Communicate project updates and status repo
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Q2. What are the responsibilities taken care of?
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The responsibilities of a Project Coordinator include planning, organizing, and overseeing projects to ensure they are completed on time and within budget.
• Develop project plans and schedules

• Coordinate project team members and resources

• Monitor project progress and address any issues that arise

• Communicate with stakeholders to provide updates and gather feedback

• Ensure project deliverables meet quality standards

• Manage proj
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Q1. Difference between R squared and adjusted R squared
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R squared measures the proportion of variance explained by the independent variables, while adjusted R squared adjusts for the number of predictors in the model.
• R squared is the proportion of variance in the dependent variable that is predictable from the independent variables.

• Adjusted R squared penalizes the addition of unnecessary predictors in the model, providing a more accurate measure of the model's goodness of f...read more
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Q1. Background questions
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Q1. Experience related
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Q1. Experience related
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Basic questions, time management is key

Depends on your performance and group for the day

Q1. Basic mechanical engineering questions and questions related to project work
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Q2. Question educational background and work adjustment
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Q1. Ifrs 15 detail with an example
Ans. 
IFRS 15 is a standard that outlines how and when revenue should be recognized in financial statements.
• IFRS 15 provides guidance on when revenue should be recognized based on the transfer of goods or services to customers.

• It requires companies to identify performance obligations in a contract and allocate the transaction price to each obligation.

• An example of IFRS 15 in action would be a software company recognizing rev...read more
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Q2. Real life implications of IFRS 15 on Revenue recognition for real estate contracts
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IFRS 15 impacts real estate revenue recognition by changing timing and method of revenue recognition.
• IFRS 15 requires revenue to be recognized when control of the property is transferred to the buyer, rather than when risks and rewards are transferred.

• Real estate developers may need to adjust their financial statements and contracts to comply with the new standard.

• IFRS 15 also requires more detailed disclosures about r...read more
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