Question

1.Describe the benefits, potential outcomes, and company enhancements of a BIA.

Answer 1

The answer follows:

Benefits of BIA (Business Impact Analysis):

i. BIA helps to create alternative methods for business operations.

ii. BIA discovers business and academic unit weaknesses.

iii. BIA measures the effect of resource loss and escalating losses over time.

iv. Provides senior management with reliable data to facilitate the development of a successful Business Continuity Plan.

Potential Outcomes of BIA:

i.The most crucial potential outcome of BIA is to establish Recovery Time Objectives (RTOs) of critical business processes and identify the necessary resources needed to keep production in motion.

ii. Also, an effective BIA will always quantify the impact of a loss from both a business interruption perspective and from a financial perspective. The process of performing a BIA should be part of every organizations recovery planning.

Company Enhancements of BIA:

i. Objective Assignment of RTOs.

ii. Organizationally Agreed Upon Parameters for Downtime Tolerances.

iii. Time and Resource Savings.

The tips provided above ensure your organization establishes the scope of its BIA effort (and overall business continuity program) according to the organization’s overall strategy, priorities and objectives – ultimately ensuring the business continuity program aligns to management’s preparedness expectations. This is what the company enhancements of BIA will leads to.