Technical due diligence aims to provide enterprising solutions and innovative options without compromising the value proposition. The critical point is to bridge the gap and explore means to a new resolution or engagement possibility. The solution is not readily available on the table but comes with continuous brainstorming and engagement. If we find ourselves in the middle of a difference of opinion, we reflect on the solution and bring a professional expert who can work with stakeholders. The process takes time, perseverance, practice, and deliberation. At times this arrangement becomes intense and possibly requires urgent action. At such times or during the process, we should not rush to act. The stakeholders need to take stock of options based on inputs provided by the technical due diligence team. Else it may lead to an action that sometimes stakeholder(s) may regret later.
Solutions-oriented approach
The technical due diligence process starts by determining and finalizing the goals and remaining focused on the objective. The continuous focus must remain on finding an appropriate solution(s) to the problem at hand and not people. The technical due diligence team needs to keep an open mind, respond selectively after deliberations and analysis. The team morally must not take sides. Stakeholders must be heard, and corrective actions concluded. There is no need to leap to a conclusion before a firm review.
Team expertise
At all times, the technical due diligence team should consider involving an in-house expert, a third person who was not involved in the resolution and who may provide a vital new perspective to the situation at hand. At such times, the expert should know everything about the problem and understand all stakeholders' views.
One must keep in mind the ability of the technical due diligence team to navigate a situation. This is one of the primary ways to reveal the importance of the technical due diligence team's role for any transaction. For the technical due diligence team, learning to provide a compliant solution is likely to position the team well to deal creatively with the next situation that will inevitably come its way.
