Flight Crew Air Transport Pilot (ATP)
Training / Qualification; Troubleshooting; Workload; Human-Machine Interface
Aircraft Equipment Problem Critical; Deviation - Speed All Types; Deviation / Discrepancy - Procedural FAR
Flight Crew Returned To Departure Airport; Flight Crew FLC complied w / Automation / Advisory; Flight Crew Took Evasive Action; General Declared Emergency
Aircraft
At V1 we had a master caution light illuminate; I turned it off and noted I had lost my attitude indicator. We continued the departure profile and at 10;000 feet I began the QRH procedures to correct an IRS fault. We complied with the checklist and ended it at the point where the fault light extinguishes. My attitude indicator was slowly returning. At this point we had elected to return to the departure airport due to the failure; loss of the autopilot; and the weather enroute. As I was checking the overweight landing procedures in Part 1 and the QRH; the fault came back on with the loss of more instruments on my PFD. We were already running the checklists for our return and did not return to the IRS Fault Checklist. At one point I noticed our airspeed had exceeded 250 [knots] below 10;000 feet which we promptly corrected. On final approach I declared an emergency due to the overweight landing. The landing was smooth and uneventful.I believe we handled this in a good manner as did the FAA inspector who was giving us a check ride. The only issue perhaps is that the checklist had two choices the light extinguishes or the light remains illuminated; our light did extinguish for awhile; long enough for me to move on to  and complete other checklists. When it came back on it seemed I lost more instruments on my PFD and my ND. It was day VFR and the airport was in front of us so we just continued and landed.
A B737-800 IRS failed during takeoff and because it would not properly reset the aircraft was returned to the departure airport for an overweight landing.