The process took 3 weeks. I interviewed at Microsoft (Mountain View, CA) in June 2008
Interview
I sent in my resume via my university's internship office. I waited 2 weeks before they first contacted me. First they did a phone interview consisting of one soft-question (about a past project) and a few technical questions. I was presented with data on a Live NetMeeting session and had to identify the relationship between data items, and later code a procedure that processes data according to the given relationship. After the phone interview I waited around 4 days before they contacted me again for an on-site interview. I already had another offer that I had to respond to, so they were kind enough and made special arrangements to speed-up the process on their end. I interviewed with 4 people from the team I would be working with from 1st level PMs & devs to the product unit manager. Only one person asked behavioral questions, while everybody else asked mostly background questions.
Interview questions [1]
Question 1
What did you learn from your work on X? Did anything go wrong? What did you do about it and what did you learn?
Three rounds of interview starting with phone screening, middle round of online interview and final round of three interviews all schedule within a couple weeks time. Interviews were Microsoft recruiters followed by employees
Interview questions [1]
Question 1
If your boss asked you to build a coffee machine in a car, how would you approach it?
Standard behavioral set of questions, walked them through past projects I've worked out and answered some case-like product question, like what is your favorite product / non technical product, etc.
Apply the summer intern programme through official website. 2 rounds of interviews in total. Give general idea of what is a good PM and talk about the latest project. Deal with a small case.