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Business Impact Analysis (BIA)

Just as one weakened domino can cause an entire line of tiles to collapse, one adverse event could devastate the viability of your business. The slightest disruption in your IS services, for example, could affect another business function in succession, as one "domino" passes on the push to the next and so forth. Soon they all begin to topple.

A sure way to prevent disruptive events from taking their toll on your business is to maintain an updated Business Continuity Plan (BCP). An essential component of the BCP is the Business Impact Analysis (BIA).

A Business Impact Analysis allows you to develop an understanding of how tolerant a business process is in respect to business disruption, the effect of supply to the process, and the ability of resources to deliver on its commitment to support the process during a loss of service.

The Business Impact Analysis includes an exploratory component to reveal any vulnerabilities, and a planning component to develop strategies for minimizing risk. It's an invaluable tool for identifying what is at stake following an event and for justifying spending on protection and disaster recovery capability.

There are generally four cyclical steps included in the BIA process:

  1. Gathering information
  2. Performing a vulnerability assessment
  3. Analyzing the information
  4. Documenting the results and presenting the recommendations
InfoSight's highly-experienced and knowledgeable analysts will identify your exposure to the sudden loss of selected business functions and/or supporting resources (threats), and analyze the potential disruptive impact of those exposures (risks) on key business functions and critical business operations.

Contact us today to get expert assistance.

Complementary Services
Business Continuity Planning
Disaster Recovery Planning
Server Replication

business impact analysis

What is a Business
Impact Analysis?

What is a Business Impact Analysis (BIA)? A Business Impact Analysis is a management-level analysis aimed at identifying a firm's exposure to the sudden loss of critical business functions and supporting resources, due to an accident, disaster, emergency, and/or threat. A Business Impact Analysis involves assessing both financial and non-financial (customer service, market confidence, creditor or supplier confidence) costs during business disruption and business restoration periods.

A Business Impact Analysis has three primary goals:
Determine Criticality— Every critical business function must be identified, and the impact of a disruption must be determined.
Estimate Maximum Downtime— Maximum downtime that an organization can tolerate while still maintaining viability should be estimated.
Evaluate Resource Requirements— Realistic recovery efforts and related interdependencies should be evaluated thoroughly.

Do you have something to add to this definition? Let us know. Email your comments and contributions.

business impact analysis