Three reasons for a business impact analysis

If you’re still not convinced—or if you are, but your management team isn’t—of the value of a business impact analysis (BIA), here are three reasons that should make it clear:

  • Eliminate guesswork when disaster strikes
    Without a business impact analysis, your decisions in times of crisis will be arbitrary. With one in place, you’ll have the justification for the decisions you and management will make, based on solid data and analysis.
  • Allocate your resources in a crisis
    With a well-crafted business impact analysis, you’ll know in advance which processes are critical to your survival, the minimum level you must restore those processes to and in what timeframes.
  • Create solid test criteria for your plans and suppliers
    The recovery requirements identified in your business impact analysis will become the criteria by which your recovery plans and those of your critical suppliers can be tested.

There are many good reasons to perform a business impact analysis. Preparing a BIA guides you in prioritizing processes and the resources they depend on, and takes the guesswork out of decision-making in a crisis.