01
Understand the asset
Three streams of input, gathered before a single option is discussed.
Technical: condition, maintenance history, compliance, records completeness. Operational: utilisation, environment severity, fleet role, scheduling. Commercial: ownership structure, lease terms, capital position, and the objective behind the decision.
Nothing is recommended here
The purpose is an accurate, unsentimental picture of what the asset actually is — not what the last report said it was, and not what the operating plan assumes.
02
Open every path
Seven options, opened simultaneously rather than sequentially.
Repair, exchange, purchase, sale, lease, life extension, part-out. Opening them together matters: evaluated one at a time, the first plausible answer tends to win by default, and the comparison that would have beaten it never gets made.
The discipline
A supplier opens one path. An advisor opens all seven and can afford to, because none of them pays us differently.
03
Test each against four criteria
Technical feasibility. Financial impact. Operational risk. Long-term value.
The same four tests, applied identically to all seven paths. Can it be done properly with available capacity and material? What does it cost now and what does it do to value later? What is the exposure to schedule and availability? What happens to residual position and future optionality?
Why four and not one
Optimising for cost alone produces the decision that looks best this quarter and worst at redelivery. Every test that gets dropped is a consequence someone discovers later.
04
One recommendation
Traceable, defensible, repeatable.
The output is a single recommendation with the comparison attached — so the client sees not only what we advise but what we rejected and why. That is what makes it defensible in front of a board, a lender or an investment committee two years later.
The test of the method
If the recommendation cannot be reconstructed by someone who was not in the room, it was an opinion rather than an analysis.