"Impact Analysis [Business Impact Analysis (BIA) ]. A management level analysis that identifies the impacts of losing the entity's resources". (NFPA 1600, 2007, p. 7) "This analysis measures the effect of resource loss and escalating losses over time in order to provide the entity with reliable data upon which to base decisions concerning hazard mitigation, recovery strategies, and continuity planning". (NFPA 1600, 2007, p. 11) "The impact analysis is a broad description and quantification of a potential event that can impact an entity. This analysis should give a clear idea of what hazards are most likely to occur; what entity facilities, functions, or services are affected based on their vulnerability to that hazard; what actions will most effectively protect them; and the potential impact on the entity in quantifiable terms. Within the impact analysis, the entity should consider the impact external to its area of influence that can affect the entity's ability to cope with an emergency. One example is the cascade effects of a hurricane. Direct impacts can include wind and flood damage. Secondary impacts can include communications, power, and transportation disruptions, both inside and outside the direct impact area, and the potential impact on the entity in quantifiable terms. A.5.3.3(3) In order to maintain continuity of operations, the entity should identify essential or critical functions and processes, their recovery priorities, and internal and external interdependencies, so that recovery time objectives can be set. A.5.3.3(7) An economic and financial impact analysis allows the quantification of the impacts without considering the cause of the emergency. This analysis is closely related to the process of identifying essential or critical functions or processes and helps decide where to place the emphasis in planning efforts. The analysis examines potential economic or financial loss resulting from disruption of the functions, processes, or services over time. The purpose of an economic and financial impact analysis is to arrive at a general loss expectancy that demonstrates what is at risk and to guide measures to mitigate the effects of an emergency.... An impact analysis could include a cost-benefit analysis. The cost-benefit analysis should not be the overriding factor in establishing a prevention strategy". (NFPA 1600, 2007, p. 15)