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Workout Strategies and the Design of a Workout Plan

What are the logical first steps when receiving a file?


Who should be responsible for the workout Strategies?


Who should draft the negotiation strategies and how should this be documented?


How to determine your primary strategy vs. plan B?


How to compare an exit strategy against rehabilitation strategy? How to estimate resources needed for the execution of each strategy?


How to formulate a bank action plan with specific benchmarks, which can interact with foreseeable scenarios?


When and how to responsibly use outside counsel, consultants, and receivers?


How to work with the borrower to formulate an acceptable borrower plan that works in concert with the bank plans?  


How and when to set specific deadlines and how to adjust the plan in light of unforeseen problems and opportunities?


When to re-negotiate and who should be involved?


How to celebrate your success and how to document your lessons learned?