You are the pilot in command of an aircraft in flight. You see the stricken aircraft at the end of the runway. You have all performance tables available to you, even better, you probably have a laptop which will give you detailed performance figures. Chop off one third of the runway. Exaggerate the height of the obstacle, say 30 feet for that little business jet. Run your performance. Add the factors. If sufficient, inform ATC. Await their clearance. Land. File an ASR.
What am I missing?