Business impact analysis
Business impact analysis (BIA) consists of providing detailed information about the minimum requirements (in terms of facilities, personnel, equipment, dependencies, vital documents and technology) of every activity deemed time critical.
The analysis provides an overview of the organization’s critical activities and resources and helps evaluate recovery priorities and assess any threat leading to business disruption. In addition, this analysis helps top management better understand the functionality of the organization and reconsider what its time critical activities and resources are to develop an accurate and comprehensive investment strategy. A good BIA is the foundation for a effective and efficient Business continuity plan (BCP) and Disaster recovery plan (DRP), as a response to all disruptive events your organization may face such as the following:
- Natural disasters
- Cyber attacks
- Health risks (e.g. pandemic)
- Supplier failure
- Geopolitical events (e.g. destabilized market)
- Acts of terrorism.
How can Deloitte help?
Deloitte’s many certified professionals are glad to help find the best solution for each client according to their needs, the given situation and industry specifics. Based on a client’s request, the Business Impact Analysis can be created from scratch with focus on specific critical processes that pose the highest risk to the client’s business.
Deloitte can assist you in preparing BIA that is essential to business continuity regarding the following:
- Identifying processes that are most important for business operating – list of critical processes that need to be restored with priority
- what resources are needed for each identified critical process and how to prioritize resource allocation when business disruptions occurs
- time needed to bring each process back to normal operation when a disruption occurs
- budget optimization for maximum gain under minimal expanses.