The Business Impact Analysis (BIA) is performed to identify the key business processes and technology components that would suffer the greatest financial, operational, customer, and/or legal and regulatory loss in the event of a disaster. The main intent of a BIA is to identify all the critical resources, systems, facilities, records, etc., that are required for the continuity of the business. Additionally, the time it would take to recovery such resources will be identified.
Once the data is collected, an analysis of all requirements, dependencies, and impact will be completed. A final report will be developed with recommendations of recovery strategies and presented to senior management. This will allow the business to determine what recovery strategies and solutions they will implement.
The Business Impact Analysis is only a part of the overall Business Assessment. A Business Assessment is separated into two constituents, Risk Assessment (RA) and Business Impact Analysis (BIA). The Risk Assessment is intended to measure present vulnerabilities to the business's environment, while the Business Impact Analysis evaluates probable loss that could result during a disaster. To maximize the Business Impact Analysis, a Risk Assessment should also be completed.
Objectives of the Business Impact Analysis
The BIA is used to quantify adverse impacts to the business caused by a loss of business operations (functions/processes). Based on the level of impact, the appropriate recovery strategy is selected to mitigate these impacts. Objectives of the Business Impact Analysis include:
- Identifies all business process within each business unit
Determines the financial, customer, operational, legal and/or regulatory impacts of each process
Establishes the time frames in which business and technology processes must be recovered
Defines key internal and external relationships and dependencies of each process
Identifying the necessary resources that are required for the recovery of each process and their associated recovery time frames
Providing a foundation for the Risk Assessment Process
Educate and obtain participation from individuals who play a critical part in recovery
Raise awareness throughout the corporation on Continuity Management
Once the assessment is completed, a business can make decisions regarding methods of mitigating risks. By completing a Risk Assessment and Business Impact Analysis, a business can implement the best strategies for Business Resumption Planning.
Following BIA templates packages are available to suit your needs. Click on the individual template package to view it's table of content. To view actual sample, please feel free to email us at firstname.lastname@example.org and we will send you sample for review.
If you are planning a complete Business Impact Analysis (BIA), Disaster Recovery Plan (DRP), Business Continuity Planning (BCP) and Emergency Mode Operation Plan (EMOP), Risk Assessment (RA), Data Center Recovery Plan & testing and revision plan with templates, policies, procedures, checklist, matrix, Policy, forms, guidelines, worksheets, methodologies, tools and standards. We would recommend you to consider our complete suite, complete enterprise wide business disaster recovery plan template suite
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Business Impact Analysis Template Packages:
Following Business Impact Analysis templates packages are available to suit your needs. Click on the individual template with link to view it's table of content.
Business Impact Analysis (BIA) Package with Policies and Applications & Data Criticality Analysis Bundle
Package 1: Business Impact Analysis Long Version Template Suite (Click here for More Details....)
Package 2: Business Impact Analysis Final Reports Template Suite (Click here for More Details....)
Package 3: Business Impact Analysis Bundle Complete Package (Click here for More Details....)
Package 4: Business Impact Analysis Bundle Complete Package with Policies (Click here for More Details....)
Microsoft Project Templates for Disaster Recovery and Business Continuity Planning
Package 1: Microsoft Project Templates for Enterprise Disaster Recovery and Business Continuity Planning including BIA and Risk Assessment. Price : $99
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