One standard
Every review is made to the same published standard, in the same structure and on the same basis, so a fund can set two reviews side by side and compare them line by line.
Arrangements across several companies are scoped and priced separately.
A review is not a commercial due diligence. It does not include customer interviews and carries no reliance letter for lenders or buyers. It is the work a board or an investor does to decide which of its options deserves that spend.
The first three questions an investor asks
Each answered on a named page of the decision document.
Question 1
What is the company worth to us on each route to exit, and which option is worth most?
The ranking: the plan and every strategy valued in full, on one price reading, the recommended version marked.
Question 2
What does each option need in funding, and what does it do to our position?
Beside the headline figure: the value added against the plan, the cash to the owners by the owners' requirement date in the joint adverse stress, and the return in that stress.
Question 3
What would have to hold, and when would we know?
The conditions, each with its date; the value test by test; and the alternative, with the date by which to switch to it.