Business Impact Analysis (BIA) is a vital component of business continuity management as it captures the recovery time-frames and dependencies for an organization’s critical business processes. By identifying the impacts of a disruption to business processes, management can determine its risk acceptance thresholds and appropriate business continuity strategies.
FIS BIA services Value Adds
The FIS consulting team is highly experienced in organizational change management, organizational communication flow business continuity and project management. These experience is especially valuable in the process of involving the internal stakeholders in the Business Impact Assessment process and aligning management on recognizing the most critical potential issues.
Comprehensive Requirement Analysis
It is not sufficiently helpful to sufficiently come up with a ‘wish list’ of targeted timeframes for IT system and business function recovery. The investment in business continuity is a risk\cost balance to be determined by senior management. FIS contributes to the development of such plans by ensuring that all of the organizational ‘business requirements’ are well considered, challenged, prioritized and wherever possible quantified.
We get it done
A common reason why Business Continuity plan development ends up failing is that the process ends up loses its impetus as other management priorities arise. FIS thereby recognizes the importance of sticking to the defined time-frame to ensure the results are fresh, current and relevant. BIA is dealt and managed as a project with a definitive start and completion target and clear objectives. FIS identifies potential obstacles and impediments and works with customers to blast these out of the way and keep the project on track.
Objectives of Business Impact Analysis
- Prioritized recovery time-frames and dependencies (e.g. infrastructure, people, information, etc) of critical business processes and objectives
- Minimum acceptable level of operation and resource capability required
- Inter-dependencies and how they may be affected by a disruption
- Quantification of possible financial, reputational, legal & Human Resource impacts that may be experienced in the event of disruption to critical processes.