Identify the problem
Action any vital actions
Action the Emergency checklist.
Then the acronym DODAR can come in:
Diagnose the problem,
discuss the Options as a crew (lets say for example a hydraulics problem, obviously you need to get the gear down, but do you want to do it right now or wait until you actually need it)
Decide on one of the options, and Allocate who is going to to what to put it into Action,
At the end Review the situation, was it the correct diagnosis? have you chosen the best option? is it progressing as you would expect?
at some point discussing with the cabin crew too, could be after emergency check list, or during the diagnosis, as they can have very useful input on the situation.