This paper describes one form of psychodynamic formulation. Three areas of object-relations (the current life situation, the early infantile relations and the transference relationship) are focused upon to derive a common pattern. From these core object-relationships a point of maximum pain can be hypothesised and the attendant defensive relationships. The paper also discusses the central importance of testing hypotheses with interpretation even in the assessment interview, and the prime interest of the psychodynamic formulation in assessing other factors in the suitability of a patient for psychotherapy.