The pages shown are from the method's test company, a fictional UK business.
The decision document
The answer, what must hold for it, and what would settle what is still open, in about ten days.
The full review
A full review is about 160 pages; every figure is traced to its source.
The workbook
Every figure in the review recomputes from it when the facts change.
The decision document
Written to be read by a board in one sitting.
The first pass of every review, whichever is commissioned: the answer, what must hold for it and the information that would settle what is still open, about ten days after the information arrives. Its page list is not yet fixed.
The full review
The structure of the full review, as the test company's book prints it.
- The executive summary: the answer, ten ideas beyond the plan, what the company is already considering, and what must be true and by when.
- Ten steps: from the current situation, through the improvements, the adjacent businesses, the main driver of value, separation, exit multiples and funding, to the recommendation, the playbook, and the next steps and timetable.
- The assumptions, information requirements and value search: the estimates still to be tested, ranked by what each changes, and the information that would settle them.
- The evidence sections on each business: its position, challenges, precedents, lessons, comparables and buyers.
- The strategies section: every strategy valued in full: its bridge, its sources of value, its funding, its path as assumed and in the joint adverse stress, and its buyers at the exit.
- The appendix: company profiles, comparables and buyers in full, the full strategies table, and the proof and stop test of each move.
The workbook
Every figure in a review can be recomputed from the workbook we deliver with it.
A named deal or target tested, or a further company or division reviewed, is a module, commissioned separately. Re-issues as the company's own facts change are part of the Continuing review.