Business Impact Analysis: Difference between revisions
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Definition
Business Impact Analysis is a component of Business Continuity Management. Business impact analysis is the process of identifying and measuring (quantitatively and qualitatively) the business impact or loss of business processes in the event of a Business Disruption. A process of analyzing activities and the effect that a business disruption might have on them.
Objectives
Business Impact Analysis is a dynamic process for identifying
- Exposure
- critical operations and services
- essential staff
- key internal and external dependencies
- recovery priorities
- recovery resource requirements
- appropriate resilience levels
Structure
Business impact analysis is a form of Risk Analysis. The focus is on Operational Risk, whereby known risk factors and risk types are analysed:
- Defining the scope of the impact analysis (Threat Analysis)
- Likelihood and severity of Loss
- Major Incident classification
- Identify Critical Service, Critical Infrastructure
Tools
Constraints
Outcome
Through the Business Impact Analysis plan an organization assesses the risks and potential impact of various disruption scenarios on an organisation’s operations and reputation and shapes a Business Continuity Plan[1]
See Also
References
- ↑ BCBS, High-level principles for business continuity, August 2006