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Business Impact Analysis
Business Impact Analysis
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IT (CYBERSECURITY)
Step 3: Conduct a Business Impact Analysis
You’ve defined the scope for the BCP. Next, use an established risk
management framework to conduct a business impact analysis (BIA).
The BIA provides written documentation to assist Maria and the other
executives in understanding the business impact should an outage occur.
Such impacts may be financial, in terms of lost revenues and additional
expenses; operational, in terms of inability to deliver products and
services; or even intangible, in terms of damage to the organization’s
reputation and loss of public confidence.
This analysis should include all departments and facilities of the
enterprise, list what it would take for each to resume adequate
operations to meet the needs of the enterprise, and must include each
phase of the recovery activities.
Business Impact Analysis
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Remember, a key element to “business impact” is the financial aspect.
What will it “cost” to take a particular action and, equally important,
what could be the “cost” of inaction?
Just as in the Risk Assessment of Project 2, prioritization is a key to
the successful recovery of operations. The sequence of activities is an
essential element in your contingency planning. Refer to the Risk
Assessment report delivered in Project 2 to get started.
Use the business impact analysis template business impact analysis
template to upload the BIA here for feedback. In the next step, you will
take a look at needed resources and who will be responsible for meeting
those needs.
