Business Impact Assessment (BIA)

BIA is not just another arrow in the quiver to counter risk but a very important element of a Business Continuity Plan. BIA generally means to assess the impact of a risk event in the form of any type of crisis that happens disrupting the business operations of an organization i.e. basically, to predict the potential consequences of such disruptions to critical processes and systems by collecting appropriate data.

An impact assessment is a systematic process to identify the critical data or process or system that an organization owns, where are they stored or practiced or installed, how are they collected or continued or recovered respectively. It also, determines the amount of acceptable downtime in the case of unavailability of those critical data or process or systems for business continuation during a disaster.

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