Business impact analysis is an important process that analyzes crucial business functions, and identify which business units, operations and processes are essential to the survival of the business.The business impact analysis will facilitate the identification of how quickly essential business units and/or processes have to return to full operation following a disaster situation.
Business impact analysis
Business impacts are identified based on a worst-case scenario that assumes that the physical infrastructure supporting each respective business unit has been destroyed and all records, equipment, etc. are not accessible within 30 days. In case of any emergency situation or a disaster the business needs to be in progress for certain period in order to assure safe and secure business continuity. Special plans are to be made by the business owners and directors in order to carry out the business at the time of disaster.
In the process of performing business impact analysis, Some of the basic elements of small or large business that needs to be examined for business impact analysis include the functionality of the firm, establishment of maximum time outage, resources to perform any functions and others. All such business elements can be easily measured and identified with the help of legal, operational, regulatory, and financial as well as consumer service requirements.
Business impact analyses help business continuity/disaster recovery professionals identify business priorities and validate or modify them for plan development. People with in-depth knowledge of and experience with the business functions being analyzed are ideal candidates for BIA interviews. The objective of these interviews and surveys was to identify processes, along with associated estimated recovery time frames, estimated financial impacts, operational impacts and estimated personnel required for recovery operations.
Business impact analysis template
Template style: there are some free template you can look around, you may based these free template and create your own personalized one to suit your own needs
Template structure: in your business impact example, you need to include key elements such as the introduction, the different units impact, and the over plan