Business Impact Analysis ( Bia )

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Business Impact Analysis Conducting a business impact analysis (BIA) is usually the first step when creating a business continuity plan. The BIA is used to identify and measure business related impacts and minimize losses that could occur during the disruption of processes in the organization. The main purpose of a BIA is to pinpoint what assets are necessary for the organization’s recovery from an incident or disaster. The BIA is also used to identify adverse impacts to the organization that are caused by disasters. “A component can be a function or process. How detailed the component definition is depends on the organization (Johnson & Merkow, 2011, p. 278)”. The component priority phase of the BIA consists of identifying business functions and processes, defining BIA scenarios and components, determining financial and service impact of components not being available, and establishing recovery time frameworks. The component reliance phase of the BIA consists of identifying component dependencies, resources required to recover components in the event of a failure, and human assets needed to recover components. With effective BIA implementation, the organization will be able to recover its processes in any situation or condition. Component Priorities Business Functions and Processes A common but effective method used to identify business functions and processes is a BIA questionnaire. This questionnaire should be used to survey managers and those with detailed knowledge of

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