Business Impact Analysis

Business Impact Analysis is defined as the process of analyzing all business functions and the effect that a specific disaster may have upon them.

At the Business Continuity Centres we believe that your business impact analysis acts as a ’survival guide’ for your business and identifies the critical and non-critical areas of your business. Failure to identify the critical components will most likely result in resources being wasted on aspects of your business that would not lead to a full recovery.

Two fundamental components of your business impact analysis should be identifying the following areas:

‘Hard’ Impact — the focus is on financial loss, breach of standards, failure to comply with regulations

‘Soft’ Impact — the focus here is placed on loss of competitive advantage, damage to reputation

Implementing a business impact analysis plan will result in you understanding which aspects of your business are the most critical in order to ensure that the impact of a disruption to your business is minimal and continues to operate as efficiently as possible, the Gartner Group states:

The real purpose of a business impact analysis is to identify those systems that when absent would create a danger to the enterprises survival and to ensure those systems revive the correct priority in the subsequent business continuity plan.

For more information on how to create a Business Impact Analysis call us on 08457 75 715. .