Business Impact Analysis
Our approach to Business Impact Analysis (BIA) is heavily aligned with recognized best practice, namely ISO 22301, the International Business Continuity Management System (BCMS) Standard. We can assist you in conducting a BIA, which forms the foundation of any BCMS. The purpose of the BIA is to help you identify your critical business activities (processes) that you need to prioritize when recovering from a disruption, factoring in the impacts of losses over time, along with required levels of activity and resources needed.
We can help you establish your BIA methodology, ensuring that in the event of a business disruption, you will be clear on what to recover first, by when, and to what level. You can also leverage our automated business continuity BIA tool, Abriska® 22301, which replaces multiple spreadsheets with a single, secure Web-based database, simplifying the BIA process. Following the BIA, your organization will be ideally prepared to determine an appropriate business continuity strategy to resume and recover prioritized business activities to a specified minimum acceptable level.
Identifying critical business processes and their dependencies is the first step in effective business continuity planning.
Understanding the potential impact of disruptions allows for the prioritization of recovery efforts.
Consultants can provide interim support to lead or assist with the BIA process, ensuring a thorough and accurate analysis of the organization's critical functions and their recovery needs.
Service Benefits
Comprehensive Business Impact Analysis services offering:
- Clear identification of critical business activities and their dependencies.
- Understanding of the potential financial, operational, legal, and reputational impacts of disruptions.
- Establishment of realistic Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs).
- Determination of the resources required to recover critical business activities.
- A solid foundation for developing effective business continuity strategies and plans.
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What are the key steps involved in conducting a Business Impact Analysis?
Key steps include identifying business processes, assessing their criticality, determining dependencies, analyzing the impact of disruptions over time, defining RTOs and RPOs, and identifying resource requirements for recovery.
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How does a BIA help in developing a business continuity strategy?
The BIA identifies the most critical activities and their recovery priorities, which then informs the development of strategies and plans focused on ensuring the timely resumption and recovery of these key functions.
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What is the difference between a Recovery Time Objective (RTO) and a Recovery Point Objective (RPO)?
The Recovery Time Objective (RTO) is the maximum acceptable time to restore a business process after a disruption, while the Recovery Point Objective (RPO) is the maximum acceptable amount of data loss that can occur during a disruption.