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What Is Business Impact Analysis & Why Is It Important?

Author: 
John Leo Webe
Publication date:
June 24, 2019
Article Summary: 

What Is Business Impact Analysis & Why Is It Important?

Business impact analysis (BIA) is a method to predict the consequences of disruptions to a business, its processes and systems by collecting relevant data. It is used for risk assessment, business continuity planning and disaster recovery planning. BIA analyzes the operational and financial impacts of a business disruption to develop strategies for recovery. Business impact analysis (BIA) is a component of business continuity planning that focuses on the business continuity requirements, resource availability and the impact of a business disruption. It is conducted to determine the most critical business processes, the impact of business disruption in those processes and the resources needed to restore them. The timing of a disruptive event can have a major impact on the loss suffered by a business.

Keywords: 

Business impact analysis (BIA), business continuity planning, business disruption, risk assessment, disruption resources

Source Citation: 
John Leo Webe
What Is Business Impact Analysis & Why Is It Important?
June 24, 2019
https://www.projectmanager.com/blog/business-impact-analysis
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