I come from the rotary-wing world, and I thought we were light years behind you fixed wing fellas in terms of MCC procedures, but I'm quite surprised that no-one on this thread has mentioned either a departure brief or SOPs.
SOPs help to save us from making rash decisions in the heat of the moment.Thats why we normally follow them.
If we are in a situation where there is a better solution than to go with the SOP - for example a 5 mile long runway, do you not brief it as a crew in advance, rather than just cuffing it?
eg:
"Today, we have a 5 mile long runway, so in the event of an engine malfunction after V1, I will delay the go/nogo decision until.........."