The Question:
What would you do if you did not have enough resources and enough time to complete the project?
My answer:
First, I would rank of the four parts (scope, time, cost, and quality) which is the least flexible (1) to the most flexible (4) as determined by the project sponsor. Since time is the least flexible and a project with poor quality would most likely be a failure, I would negotiate with the project sponsor with addition money to get the resources or reduce the scope after getting input from the project team. If that does not get the sponsor to rethink, then I would let him or her know how the project would most likely be a failure and make the organization look bad. If that does not work, then it would appear the project is not of importance to the organization and I would recommend canceling the project.
Their response:
You just do the project as is. Do not worry about the organization's priories. Do as your told...
Hope they do not call back with an offer.. sounds like a disaster in the making.