BIA 02
BIA 02 : Business Impact Analysis. A BIA is an important aspect of managing an organizations's overall risk, including its continuation as a going concern, and its ability for an effective Business Continuity Plan (BCP) and an Information Technology (IT) disaster recovery plan. A responsive BCP, including an IT disaster recovery plan, addresses the findings from a Business Impact Analysis (BIA). The purpose of the BIA is to identify recovery objectives for critical business processes and IT assets, as well as continuity-related risks and vulnerability in accord with the findings of a Risk Assessment (RA). With an adequate BIA and RA, an organization can evaluate whether changes are needed in its business continuity and disaster recovery plans. These plans should be kept up to date and periodically tested. Under US laws and regulations, private sector companies should ensure a capacity to meet obligations to shareholders as well as under the Sarbanes-Oxley Act (SOA)
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