Does it not depend a bit on the severity of the engine failure? There are failures - as in dud FCU's etc - and then there are catastrophic failures with blades being chucked through windows, fire warnings, fuel pissing everywhere etc etc.
A benign failure is no reason to rush back home. The odds of a second engine failing on the same flight are very very remote - or at least ETOPS tells us so ! As for the nasty ones, minima and limitations can go to buggery - this old (and in the past bold) Captain will dump the airplane on the nearest runway where he reckons he can get it stopped. If it is really severe - like uncontained fire - the only checklists I would run would be the immediate recall items and the engine inoperative landing ; and in really dire situations even the latter would be actioned from memory if time was running out. All the other stuff would have to wait for the next simulator ride when the armchair experts in mahogany row called for my remedial training.