I wrote some time back about why nobody seemed to try to slow Titanic sinking or find something to use as a lifeboat to save more people.

I thought this might be fun.
It's 11:40 pm Titanic just sideswiped a iceberg over a 100 ft. tall down the starboard side of the ship, 4 of the first 5 watertight compartments have water coming in. That's one to many, Titanic is going to founder.

There are 15 watertight bulkheads, but they only go up to E deck. If you leave the doors open Titanic will sink slower because the water is only coming in through the holes in the hull, and it will have to flood the whole length of the ship. The electricity will go out a lot faster and you will lose propulsion once the water hits the boilers, if you decide to do that, you need to bleed the pressure off now, so they don't blow up when the cold ocean water hits them. There's only space in the 20 lifeboats for 1176 people. Counting passengers and crew you have around 2300 people. There is a ship off in the distance, but the Marconi operator has gone to bed, there are a bunch of ships that answered your CQD(this was before SOS), but the Carpathia is the only ship close, and they are 58 miles away, and can only do about 15 knots, which means they are going to be awhile,( Titanic sunk at 2:40am and the Carpathia picked up the first survivors at 4:30). The air temp is about 28 degrees, there is no wind, and the water is like glass. It was a clear night with no moon, so you can't see very well. Anybody that goes in the water has about 15 minutes before they freeze to death.

You have a few options. You can try to get to the ship in the distance, but moving is going to let water in way faster, maybe faster than making it to the other ship. Since the water is like glass and you know somebody is coming you can overload the lifeboats some, but people are still going in the water, you might be able to send some men down into the hold and see if there's anything that might be used as a lifeboat. You don't have to stop the water from coming in completely, just enough to allow the pumps to keep up, if you can do that, nobody goes in the water, and you might be able to save a luxury liner, that cost 7.5 million dollars in 1912. Your crew is not very familiar with the new welling davits that lower the lifeboats into the water, because there was supposed to be twice as many boats, and the davits were designed for that. 4 of the lifeboats called "collapsible" because they have canvas sides to save room are on top of the staterooms and officers quarters on the promenade deck.

You have about 2 hours to figure something out, what do you do?

If your dumbass chief officer Murdock had just stopped the boat instead of trying to go around it, you would have a great big dent at the bow, possibly a few firemen injured, but you could have just stayed in bed.

I'm going to try to save the ship. I'm going to put a lifeboat in the water with some of the crew and a bunch of mattresses, and some poles to see if we can block enough water to let the pumps keep up. Knowing I am short by half in lifeboats, I' m going to send some crewmen to search for anything that can be used as a lifeboat. As a long shot I'm going to send somebody up in the crow's nest to look for field ice or a iceberg that I could put people on. If my guys get a mattress or two stuck in the holes that allow the pumps to keep up I'm heading for the ship in the distance if it's still there, if not then I'm going to get my Marconi operator to find out where the Carpathia is and head for her. If my guy's aren't having any luck, then I'm going to put as many people in each lifeboat as I can. Unlike what actually happened I'm going to keep the watertight doors open so the water fills the whole ship instead of pouring in over the top of the bulkheads on E deck. It will let the ship stay afloat a little longer, even if the lights go out and the engines can't run. All I have to do is keep the people out of the water until 4:30 when the Carpathia is due to arrive.
If I manage to keep Titanic afloat until the Carpathia arrives, the first thing I'm going to do is throw chief officer Murdock overboard. Which brings us to this point. The Titanic sank because even though Murdock was on the ship, for the sea trials in march, and saw what it took to turn Titanic. He also made counter commands that cancelled each other out(hard to port, full speed astern). Chief officer Murdock is the reason Titanic sank, he panicked and caused the iceberg to scrape down the starboard side of Titanic breeching more compartments than Titanic could take and stay afloat. Even though Fredrick Fleet didn't see the iceberg until it was 500 yards out, all Murdock would have done is call all stop, and Titanic would have had damage from hitting the iceberg head-on and maybe killed a few crewmen in their quarters, Titanic would have stayed afloat, and would have just been late getting into New York, because the damage would have slowed the ship down, they would have still made New York.