Business Impact Analysis

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Business Impact Analysis


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Business Impact Analysis
This is an essential organization’s business component that composes of a continuance plan for the firm (Hiles, 2002). This plan includes planning components that aid in developing strategies for mitigating risks, and an exploratory component to indicate and identify any vulnerability. In this analysis account, the researcher is going to discuss and subsequently describe methods for establishing components priorities by determining components dependencies and reliance in both business continuity and disaster recovery. According to (Cardoza, 2006), in developing a business impact analysis, we always go through common business functions and process found in the business currently. (Cardoza, 2006) states that First the organization has to discuss the critical business functions by first creating a list of all functional areas of the business and the gather SMEs from each area. The SMEs are supposed to brainstorm and generate a list of questions to ask other areas, and then compile the results. They are also supposed to meet and discuss the results with a fundamental mission of finding interdependency and interrelation. The common business functions and processes include Information technology, Human resources, Finance, Security and facilities, Legal processes, Research and development, Marketing and sales, Operations, and Manufacturing processes and warehouses. In the process of discussing their interdependence, (James F. Broder, 2012), keep in mind the business. The key processes all occur in every business functional areas. The main point of any business about a business disruption is the financial impacts and operational impacts. The operational impacts will address the nonmonetary impacts which will include technology, processes and people while the financial impacts will specifically focus on the monetary impacts and look at how the...
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