The Business Impact Analysis (BIA) is one of the most important, and least well understood, stages of the BCM Lifecycle. Cambridge Risk Solutions can demystify the process and ensure that your BCM programme is built on a solid foundation.
The key steps are explained below: follow the link to see a Business Impact Analysis case study.
The first stage of the Business Impact Analysis involves identifying all the activities that are necessary to deliver the organisation’s key products and services to customers or service users. Organisations usually have a good understanding of their core processes (eg manufacturing operations) but often overlook the crucial administrative and ‘back office’ functions that support these.
Impacts can be felt in a number of ways, including:
The impact of the loss of each of the activities identified above needs to be estimated as a function of time.
Estimating the impacts over time leads to a natural prioritisation of activities from which it is possible to start planning for recovery. The final stage of the Business Impact Analysis consists of calculating the resources (including people, equipment, IT systems and workspace) required to recover each activity to an adequate level within an appropriate timescale to avoid serious, long-term damage to the organisation.
Cambridge Risk Solutions provides a range of services to assist with each stage of the Business Continuity Lifecycle. Alternatively, if you wish, you can outsource your entire Business Continuity Management function to us.
View some case studies of recent Business Continuity planning, training and exercising projects.