When running a business or organization is it very important to perform periodic risk assessments. In this blog post I will introduce you to the concept of a Business Impact Analysis or (BIA). A BIA is a process that can help determine the potential effects that interruptions can cause to the daily operations of your business or organization.
While the method used to conduct a BIA varies among organizations, gathering information is almost always the first step. It is important to identify "mission-essential functions" as well as "critical systems". Once you have identified these you can prioritize their importance. The interruption of any of these systems will lead to lost revenue. How much revenue is dependant on multiple factors that you will have to take into consideration.
A BIA takes into consideration the following categories:
- Life
- Property
- Safety ...