'Fail-To-Fail' is a strategic concept for fall-back planning for high risk mid-to-long term projects, in order to optimize for the benefits and value for such challenges where the chances of failures are high. Some beginners concept of mergers and acquisition from qualitative perspective is introduced, however the meat of the book lies in a trinomial re-joining tree risk appetite based approach of looking at problems at hand, rather than a simple success and fail option. More emphasis is given in qualitative as well as financial quantitative perspective to projects to greatly magnify the value for intermediary outcomes instead of thinking of them as complete failure - as neither failure nor success is ever final. For those interested in investment banking, the model makes use of options derivative to take advantage of. The concepts discussed in the book is useful to anyone interested in management from qualitative perspective as well as those working on long term financially planned projects. Examples from IT, drug development and biomedical research are cited for illustration purpose. The concepts discussed in M&A & Valuation model are mostly strategic and little tacktical.