Business Impact Analysis (BIA)

Power outages, delayed supply of goods, damage to a store or factory...all these events can seriously disrupt a business. But which parts of the business would be more impacted than others? How would the disruption affect not just profitability, but also worker safety, data integrity, and organizational reputation? How much money would have to be allocated for recovery? These are questions that a business impact analysis seeks to answer. It predicts what would happen if a business function or process were to be disrupted, and thereby helps an organization develop effective recovery strategies.

Yet conducting such an analysis can be complex and exhausting as it involves gathering extensive information from multiple organizational functions and business partners, analyzing this information to understand the impact of a disaster, and preparing detailed reports and recommendations. Most of these processes are managed manually, and therefore take up a lot of time and effort.

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MetricStream's Business Impact Analysis Software Solution

The Business Impact Analysis functionality within the Business Continuity Management (BCM) App, simplifies and streamlines business impact assessments, while automating resource-intensive workflows. Using the BCM App, organizations can efficiently trigger surveys to identify critical processes, conduct process modeling to determine interdependencies, estimate Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs), prepare reports, and more. The BCM App implements a centralized framework to track the status of business impact analysis processes at an enterprise level and in real time. It also improves process efficiency by enabling a single analysis to be applied to multiple business continuity plans.

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