Business Impact Analysis (BIA)
Service that consists of the evaluation of the operations of the business and the effect that an interruption would have on them. This service not only includes the identification of the organization’s critical assets, functions, processes and resources, but also the assessment of possible damages or losses that could affect the organization as a result of an interruption or some critical change in the business.
Why is it important
It is important to perform a Business Impact Analysis as it will help determine which of the organization’s operational activities are the most critical and what resources are needed to maintain business continuity during and after an interruption to day-to-day operation. Business impact analysis is the first step (and a crucial step) in creating a disaster recovery and business continuity plan.