Business Impact Analysis Paper

Define what a business impact analysis (BIA) is. Business impact analysis (BIA) is a section of business continuity arrangement that aids to classify critical and non-critical structures. A business impact analysis also consigns magnitudes and usually a dollar figure to particular disaster circumstances. It will also comprise expected to regain periods and recovery requirements for such developments. The business impact analysis is frequently used to size the risks of failure against the costs of upgrading a particular system.( Techopedia, 2016)

Identify its primary elements or components. A business impact analysis may operate in several stages. An organization-wide BIA will recognize great threats and their fallout, such as losing
(Hogan, 2016)
II. Understand the Organization Business processes, systems and functions should be considered critical if the failure to perform them would result in unacceptable damage to the company. (Hogan, 2016)
III. Business Impact Analysis Tools
Use tools such as organisational charts, interviews, questionnaires, data flow diagrams and BIA software to gather data necessary to analyse the potential impact of a disaster on the business. (Hogan, 2016)
IV. Business Impact Analysis Process List each business process and function. Designate each process as critical or non-critical to conducting business. Compile a list of personnel who must be in place to perform these functions. (Hogan, 2016)
V. Business Impact Analysis Findings
Confirm your findings with department managers, key personnel, and finally, to executive management team to gain approval to use the findings to develop business recovery strategies. (Hogan, 2016)

References:
What is Business Impact Analysis (BIA)? - Definition from Techopedia. (2016). Techopedia.com. Retrieved 20 October 2016, from