Amigo's answer
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How to approach it
Use the STAR method — Situation, Task, Action, Result — but spend most of your time on what you learned and changed afterwards. Choose a real failure with real stakes, and take ownership without over-apologising.
Example answer
"In my first lead role I underestimated a database migration and promised a two-week timeline. It took five, and we delayed a customer launch. I owned it with the client directly, rebuilt the plan with the team and we delivered without further slips. Since then I break estimates into smaller pieces, add explicit risk buffers and share confidence levels rather than single dates. On my last three projects we landed within a week of the estimate."