LLL is a global passenger airline that needs to invest in a new fleet of aircraft to operate on its routes. There are several types of aircraft to choose between. The new aircraft will have an operating life of 25 years with LLL and therefore management is keen to make the correct decision.

There are several uncertainties that make it difficult for LLL to make this investment decision. Aircraft engine technologies are changing and some manufacturers are developing engines that propel aircraft at much higher speeds, whilst others are developing slower engines that minimise emissions. Concern over global warming is leading governments in some countries to impose heavy taxation on airlines that operate aircraft that have high emissions. The demand for air travel is also changing due to changing income levels between emerging and mature economies as well as the increased use of telecommunications to replace face to face meetings.

Which THREE of the following techniques would you recommend to help LLL make this investment decision?