Business Impact Analysis (BIA - Business Impact Analysis) evaluates the impact on the organization of a specific threat, danger, some negative situation or, conversely, the introduction of some measure or improvement. So the impacts can be negative or positive. Business impact analysis helps an organization anticipate the consequences of a disruption or change and obtain the information needed to recover or the basis for what resources are needed to implement the change.
Why is BIA performed?
- Determining the impact of a particular threat on the organization
- Determining the impact of a change on the organization (for example, introducing a new application)
- Determining impacts on processes, people, technology and other resources
- Determining the minimum levels of resources needed to resume critical activities at specified times
- It is the basis of the business continuity management process (Business Continuity Management, BCM)
BIA in Risk Analysis
- predicts the consequences of a disruption to your business, and gathers information needed to develop recovery strategies.
- Potential loss scenarios should be identified during a risk assessment
How BIA is performed?
- It consists of techniques and methods used to determine impacts on processes, people, technology and other resources
- Determines critical activities
- It determines the priorities of their restoration based on the previous steps of determining the impact
- It is done using process and resource analysis
- Determines impacts over time, for example Recovery Time