The Business Impact Analysis commonly referred to as a BIA is one of the main components utilized in the creation of a complete and successful Continuity Plan. The BIA provides for the assessment and prioritization of essential and critical business functions and processes, including interdependencies of other business processes.
The BIA will help identify the potential impact of business disruptions to business units and the additional impact on the business as a whole and other business units. The BIA will also identify legal and regulatory obligations of the business and business units, for use in creating an effective continuity plan.
The Business Impact Analysis also includes and estimation of allowable downtime and what are considered acceptable losses which assist in development of Recovery Point Objectives (RPO) and Recovery Time Objectives (RTO). The length of time required to develop a BIA is dependent on the size and complexity of the business.
Continuity Co., LLC can assist your organization in completing a Business Impact Analysis, or we can conduct a comprehensive and complete BIA for you.