A risk assessment is a process to identify potential hazards and analyze what could happen if a hazard occurs.
A business impact analysis (BIA) is the process for determining the potential impacts resulting from the interruption of time sensitive or critical business processes.
A business continuity plan is a roadmap for continuing operations under adverse conditions such as a storm or a crime.
A disaster recovery plan, is a plan for business continuity in the event of a disaster that destroys part or all of a business's resources, including IT equipment, data records and the physical space of an organization.
Lab #6 Assessment Questions & Answers 1. What is the difference between a risk analysis (RA) and a business impact analysis (BIA)? * Risk analysis is often identifying the potential threats and the associated vulnerabilities to the organizations .Risk analysis doesn’t view the organization from the mission critical Business Process point of view. More over BIA perceives the organization from the impact that is going to occur for an organization if the critical business processes are interrupted or tampered 2. What is the difference between a disaster recovery plan (DRP) and a business continuity plan (BCP)? * Disaster recovery is the older of the 2 functions. DR planning is an essential part of business planning that – too often – gets neglected. Part of this has to do with the fact that making a Disaster Recovery plan requires a lot of time and attention from busy managers and executives from every functional department within the company. Business continuity is a newer term which was first popularized as a response to the Y2K bug. In order to stop your company from bleeding money in these situations, you need a plan that will allow the organization to continue generating revenue and providing services – although possibly with lower quality – on a temporary basis until the company has