Business Impact Analysis
A Business Impact Analysis (BIA) is a detailed assessment of an organization’s critical processes and assets to determine the potential impact of disruptions or disasters on its operations.
BIA
A BIA is a critical part of business continuity management and provides critical information for developing recovery and resiliency strategies that help an organization maintain operations in the event of significant disruptions.
Identification of critical processes:
Identifies the key processes and business functions that are critical to the organization's continuity of operations. These processes must be prioritized based on their importance to the success of the business.
Recovery Time Objective (RTO):
Sets the maximum time allowed for recovery of each critical process after an interruption. The RTO helps determine the resources needed and timelines for recovery.
Regular tests and updates:
Regularly test contingency plans to ensure their effectiveness and make updates as needed. This will ensure that plans are aligned with changes in the business environment and adjust to new threats and vulnerabilities.
Dependency Assessment:
Identifies internal and external dependencies that can affect critical processes. This includes identifying key vendors, IT systems, critical infrastructure, and other resources necessary for the operation of the business.