Business Impact Analysis (BIA) Steps
Business Impact Analysis (BIA) Steps : (1) Identifying the Business Processes -- The first step in a BIA is to identify the business processes performed by the functional team, the resources needed to perform the function, and the critical staff performing the work (2) Determining RTO and RPO Based on Business Impact -- The second step in a BIA is to identify the type of business impact if the business process cannot be performed. Below are some types of business impacts: (3) Health and safety (e.g., injury). (4) Environmental (e.g., spill). (5) Customer service (e.g., loss of customers). (6) Financial (e.g., penalties). (7) Regulatory/legal (e.g., governmental action). (8) Reputation (e.g., loss of image) (9) Identifying the Other Parties and Physical Resources -- The third step of the BIA is to identify the other parties and physical resources that are critical to the business process, which could include other departments, vendors, other third parties, critical equipment, and physical records. Obtaining Sponsor and Manager Approval of BIA: The BCM sponsor and managers of each team must review and approve the BIA for their scope of operations. Since managers throughout the organization are responsible for ensuring the business continuity and recovery solutions are implemented, they must own the BIA for their team". (IIA, Business Continuity Management, 2008, pp. 10-11)
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