step 1, pull the intake off so you can get at the valve covers.
step 2, pull the valve covers and inspect the guides.
If the guides look good and the chains look good continue. If the rear is shot you need to pull the engine, if the front is shot you don't. if all is good continue to step 3.
step 3, pull the fan, fan clutch, water pump and front timing cover. Inspect the tensioners and chains.
This would be the best place to start and no cranes or specialty tools required other than a fan clutch tool.
Ford procedures for all the above can be found at
http://search.ebscohost.com/. Password tech username tech. scroll down to the auto repair reference beta and select your year and model of vehicle.