Capital allocation
What return compensates for the risk?
Compare options using after-tax outcomes, liquidity, concentration, downside, and the time required to manage them.
Operating resilience
What breaks if the largest customer leaves?
Test concentration, contract terms, redeployment capability, and the cash runway required to adapt.
Governance
Which assumption has never been challenged?
Identify the beliefs embedded in plans and determine what evidence would validate or invalidate them.