Business Impact Analysis (BIA) is focused on the organisation's Mission Critical Activities (MCA), their dependencies, single points of failure taking into account the time sensitivity of each disruption or interruption or loss. The BIA assignment will also focus on determining the Recovery Time Objectives (RTO), Recovery Point Objectives (RPO) and the extent business continuity which can be achieved.
BIA is the basis on which all business continuity management exercise is based and the methodologies adopted by Plaudit can identify, quantify and qualify the business impacts and their effects on the organization and its business from operational disruptions and the resultant losses and implications. The key to successful BIA is the realization that it is essential for the business in identifying what is critical for its continuance and implementing the same.
Plaudit can conduct comprehensive BIA by studying all the established processes, procedures including the resources like people, IT and related technical infrastructure etc. required to run these processes. The documented organization wide standards, policies and procedures shall also be reckoned while conducting the BIA. The benefits which will accrue to the organization as a result of the BIA exercise will include the identification and documentation of:
- Objectives and deliverables like services and products, their dependencies, single point of failures
- Financial and non-financial impacts and consequences arising out of disruptions, interruption or loss
- Objectives for each of the organisation's Mission Critical Activities and their dependencies and identification of a prioritised minimum acceptable resource recovery configuration, time and resources which are required to facilitate a minimum defined level of business continuity.
- Key Records/Data in all media, Key Customers, Clients and stakeholders, suppliers, outsourced providers, constraints etc.
A comprehensive Business Impact Analysis Report arising out of the non-availability of Mission Critical Activities and the steps to be initiated to mitigate occurrence of such issues proactively, will be provided.
As new threats emerge and new products, services and business options are implemented, it is only appropriate that the BIA is reviewed periodically and dovetailed accordingly. Plaudit can take up the BIA review and refresh and validate the observations periodically.