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BIA is the foundation for all business continuity planning. It identifies the financial, operational, and service impacts that may result from a disruption in daily business or organizational operations.
Disruptions can be short term (power outages or information systems problems) or long term (fires or natural disasters). In all disruptions, there is one common element — some or all of your business operations have stopped.
In order to prepare for and be able to respond promptly to disruptions, a business impact analysis needs to be conducted first. A BIA is important because it drives the priorities, strategies, and solutions for managing continuity and recovery. Planning decisions must be weighed against projected needs and costs, so the decisions that are made satisfy the recovery time objectives and are cost effective.
Without the knowledge that a BIA provides, preparing an effective and comprehensive business continuity plan is difficult, if not impossible. Here are three options for use in putting together a BIA:
The Business Analysis Checklist can be used to get a basic idea of your business processes. You can print the checklist and fill it out.
The Critical Functions Assessment Survey is from Strohl BIA software and is a starting point in determining your critical business processes. Below is a sample survey form.
BIA software from Strohl is a tool that can help get you through the early planning maze.
To get more information or to set up a Strohl BIA account, contact:
