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Posts tagged [Risk assessment]

Is your business impact analysis covering everything you need?

Is your business impact analysis covering everything you need?

 

An important part of the business continuity process is Business Impact Analysis, or BIA, which is defined as the process that identifies and evaluates the potential effects (financial, safety, regulatory, legal, reputation and other) of natural and man-made events on business operations. This is usually done in tandem with risk analysis, or RA, which is the process of gathering data that can be used to identify risks and possible threats to business operations.

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Business impact analysis in a nutshell

“A business impact analysis (BIA) is a process that identifies and evaluates the potential effects (financial, life/safety, regulatory, legal/contractual, reputation and so forth) of natural and man-made events on business operations.” – Gartner. A business impact analysis is really one of the cornerstones of business continuity planning. 

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