Business
Impact Analysis |
 |
 |
Contingency Now's Business Impact Analysis (BIA) is more than just an analysis of your current
operating environment. It's a full assessment that includes financial loss expectations, gap analysis, recommendations towards risk mitigation,
and the development of an initial enterprise-wide recovery program with continuous improvement.
Prior to building and implementing a BCP, COOP, or DRP the enterprise should be required to perform a BIA. The BIA is the impetus behind
effective plan development because the majority of findings and information coming from the BIA report is infused into the action plan.
Think of a BIA as a snapshot of your enterprises operational strengths and weaknesses in conformance to the ability of your business to recover
from an interruption event.
A key objective for developing a BIA is to identify and confirm the financial impact a business interruption event would have on the enterprise.
Contingency Now leverages our in-house BIA tool to analyze and assess where your enterprise is vulnerable, the magnitude of each exposure, level of risk,
and the planning steps taken to mitigate the identified risk. This requires aligning enterprise services and/or production with applications and systems,
then determining how the revenue stream or legal dependencies are impacted due to functional losses. The BIA will flush out inefficiencies in current
or proposed data and paper record recovery thereby increasing corporate Return on Investment (ROI) and decreasing Total Cost of Ownership (TCO).
Contingency Now will perform a business recovery risk assessment on the following operational areas:
- Financial downtime costs
- Servers (both inside the enterprise and outsourced)
- Applications (both inside the enterprise and outsourced)
- Wire line Telecommunications (WAN and LAN)
- Wireless Telecommunications (WAN and LAN)
- Physical location of the building (location)
- The building itself (premises)
- Human intervention
- Vital records & documents
The key objectives for developing a BIA are:
- Prioritizing company services, functions and systems for restoration (classification)
- Identifying inefficiencies in data backup and business recovery processes
- Identifying and determining the Recovery Time Objectives (RTO's) and Recovery Point Objectives (RPO's) on a per system, process and functional basis
- Identify and calculate the financial losses associated with losing key applications or business functions
- Differentiate between vital, critical and less-important data, information and records
- Drive efficiency and effectiveness into the BCP, COOP and DRP action plans
- Provide the initial road map for minimizing and mitigating business risk through continuous improvement
Not too sure if a BCP, COOP or DRP is needed for
your company, enterprise or department? Contingency Now's BIA process
will enable your management team to make practical and financially
sound decisions whether to proceed with a BCP, COOP or DRP. Post
the BIA process, your management team will know how best to leverage
your recovery plan budget and effectively utilize human resources.
START NOW TO ENSURE TOMORROW'S SUCCESS!! |
|
