An essential part of an organization’s disaster recovery plan, the Crosspoint Solutions Business Impact Analysis (BIA), is an information-gathering exercise designed to methodically identify the processes performed by an organization, the resources required to support each process performed, and the possibilities and impact of process failures on business operations. The Crosspoint Solutions Business Impact Analysis enables the organization to conduct business risk assessment and business process analysis. This provides the foundation for developing and selecting a business continuity strategy, allowing the organization to continue to perform critical processes in the event of a disruption.
Through the BIA, Crosspoint Solutions experts interview key stakeholders in both IT and across many departments in the business, identify the availability and business continuity plan requirements for key business processes, establish the financial and other impacts of business interruption, document the interdependencies of key business processes and supporting applications and infrastructure, identify relevant threats and vulnerabilities, and establish justifiable data loss prevention and recovery priorities and objectives. Business impact analysis guides the development of a business case, so you can rationalize investments in improved IT availability and recoverability.
Benefits of the Crosspoint Solutions Business Impact Analysis (BIA) / Business Risk Assessment
- Identifies critical business processes and IT services
- Determines Business Case and requirements for continuity
- IT Risk Assessment and applicable disaster scenarios
A Crosspoint Solutions BIA is likely to identify costs linked to failures, such as loss of cash flow, replacement of equipment, salaries paid to catch up with a backlog of work, loss of profits, and so on. A BIA report quantifies the importance of business components and suggests appropriate fund allocation for measures to protect them. The possibilities of failures are likely to be assessed in terms of their impacts on safety, finances, marketing, legal compliance, and quality assurance.