All businesses, irrespective of their size, industry or location, are prone to disruption. This could be anything from temporary loss of service due to poor internet connectivity, to severe downtime caused by a storm or a breach.
The key to not get overwhelmed by disruption events is to prepared in advance. Trying to counter the effects after they have occurred may ultimately prove to be futile. After all, prevention is better than cure.
Business Impact Analysis (BIA) finds its relevance at this juncture. A Business Impact Analysis (BIA) identifies critical business functions and quantifies the impact of a disruption. It can lay the foundation for a robust business continuity and disaster recovery (BCDR) strategy and prepare your business for potential or inevitable disruptions.