Turnaround plan refinement
High-level turnaround plan
Should a turnaround be found viable during turnaround situation assessment, a high-level turnaround plan is developed during this stage that incorporates a high-level turnaround strategy.
The turnaround plan is normally high level due to time pressure to commence with emergency management, and to start with turnaround restructuring.
This high-level plan needs to be further defined to enable final restructuring.
The format is the same as for the eventual final turnaround plan.
In practice, the turnaround plan refinement stage normally runs concurrently with emergency management and initial restructuring.