Contingency Planning and Business Continuity World: Business Impact Analysis

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  BUSINESS IMPACT ANALYSIS - RISK ANALYSIS - PLANNING TOOLS - SLA

Business Impact Analysis

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It is often said that the first step in a sensible business continuity process is to consider the potential impacts of each type of problem. The argument is that you cannot properly plan for a disaster if you have little idea of the likely impacts on your business/organization of the different scenarios.

This is undoubtedly the case, yet it is surprising how many organizations bypass this initial step in the continuity process.

WHAT IS BIA?
Business impact analysis (BIA) is essentially a means of systematically assessing the potential impacts resulting from various (unavailability) events or incidents

It is common for the impacts resulting from other types of incident (such as breach of loss of data integrity or confidentiality) to be simultaneously explored, but this need not be the case. However, there are certainly advantages to undertaking a comprehensive and wider focused business impact and risk analysis exercise.

The business impact analysis is intended to help you understand the degree of potential loss (and various other unwanted effects) which could occur. This will cover not just direct financial loss, but other issues, such as reputational damage, regulatory effects, etc.


 


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