Business Impact Analysis Business Continuity

Risk assessment looks at the various threats your company faces.

Business impact analysis business continuity. In this chapter we turn our attention to the process of business impact analysis. Business impact analysis looks at the critical business functions and the impact of not having those functions available to the firm. Business impact analysis is the process of figuring out which processes are critical to the company s ongoing success and understanding the impact of a disruption to those processes.

Conduct a business impact analysis to identify time sensitive or critical business functions and process and the resources that support them. 3 4 2 business impact analysis bia maintenance. Part of business continuity planning is having a business impact analysis bia.

The purpose of the business impact analysis is to determine your business continuity requirements with regards to timescales and resource needs. This will then help you identify appropriate business continuity solutions for your activities products and or services. The intention of the bia is to identify all processes that pass through your area prioritize those processes that are critical to supporting the university s mission and determine all resources.

These two assessments look at the company from two different angles. Completing a business impact analysis bia is a fundamental planning exercise for all departments as they begin to think about business continuity. Business impact analysis as part of business continuity planning a business continuity plan bcp describes what steps must be taken in case of an outage or disruption whereas a bia identifies the risk that could prompt the outage as well as the critical business functions that could be impacted by the outage and prioritizes these for recovery.

The business continuity coordinator should ensure the required bcp updates have been completed and distribute them to the distribution list described in chapter 1. That sounds like a project. There are four 4 steps any business continuity plan and they are.

The business impact analysis bia is not a one time project because of business changes and growth as stated in the previous section. A business impact analysis is a great tool to assess risk and set up a plan of recovery if and when it occurs. The bia focuses on the effects or consequences of the interruption to critical business functions and attempts to quantify the financial and non financial costs associated with a disaster.