Business Impact Analysis and What to Know Inside It?
Do you ever hear about the business impact analysis? The BIA is a document that is used in order to predict the consequences of disruption of the business function. In other hand, this document also gathers the information that is needed to develop the recovery strategies.
Of course, by making this kind of document analysis for business, the manager will be able to make a good planning in running their business. The bad impact of business could be managed well and the planning of business could be reached well.
In this occasion, we will talk about the detail of business impact analysis and things to know inside it. For those who are curious with it, please take a sit and read some following writings below.
Steps to Make a Good Business Impact Analysis
The explanation before tells that BIA is an important document inside a business. With this analysis, of course the business could run well and the problems inside the business could be handled well.
Here, when you want to make a BIA, there are some steps that you need to do. Some steps to make this kind of analysis document are:
- Get approval
To make a BIA, you need to get approval from the senior management of the project. To get the approval, here you need to define the objectives, goals and the scope of BIA. Make sure that you write those matters in detail and clear.
- Collect information
After getting an approval, here you need to collect the information. There are some sources of information that you could get, such as the interview or using the questionnaire. Of course, inside the interview or questionnaire, there are some information to be asked, as:
- Name of process
- Detail description of location of performed process
- Detail inputs and outputs inside the process
- Resources and tools that are used inside the process
- Users of process
- Financial and operational impact
- Detail regulatory
- Historical data
- Review the information
The next steps to make business impact analysis to do is reviewing the information. Here, after collecting the information, you need to review and make priority from the information.
- Create BIA report
When the information has cleared, the next thing to do is creating the BIA report. There are some points to be added inside the BIA report, such as:
- Executive summary
- Objectives and scope
- Methodologies used to gather the evaluation and data
- Summary of findings
- Detailed finding on each department inside the business
- Supporting document
- Recommendation for recovery
Why Business Impact Analysis is Important?
Something about BIA that you need to know is the reason why this document is important. Yes, there are some reasons why BIA should be done in running a business. Some importance of BIA to know are:
- Plan ahead
The first importance of BIA is the plan ahead. By making a BIA, a business will have many plans to do in order to put the business in better position. Of course, this matter is also important in order to renew the ways of business, so problem could be handled well.
- Prioritize Accordingly
The BIA is also important to help the manager find the priority when they want to run a business. The priority here is very essential and of course important, so the running of business could be controlled well.
That is all about the business impact analysis. You may do some researches in order to find a sample of it.
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