The Business Impact Analysis is critical for the development of a business continuity plan (BCP). It identifies risks, critical processes and resources needed in case of recovery and quantifies the impact a disaster will have upon the organization. The development of a mission statement is normally performed before the BIA.
A BIA (business impact analysis ) is considered a functional analysis, in which a team collects data through interviews and documentary sources; documents business functions, activities, and transactions ; develops a hierarchy of business functions; and finally applies a classification scheme to indicate each individual function’s criticality level.
BIA Steps The more detailed and granular steps of a BIA are outlined here:
1. Select individuals to interview for data gathering.
2. Create data-gathering techniques (surveys, questionnaires, qualitative and quantitative approaches).
3. Identify the company’s critical business functions.
4. Identify the resources these functions depend upon.
5. Calculate how long these functions can survive without these resources.
6. Identify vulnerabilities and threats to these functions.
7. Calculate the risk for each different business function.
8. Document findings and report them to management.
Reference(s) used for this question: Hernandez CISSP, Steven (2012-12-21). Official (ISC)2 Guide to the CISSP CBK, Third Edition ((ISC)2 Press) (Kindle Location 21076). Auerbach Publications. Kindle Edition. and Harris, Shon (2012-10-18). CISSP All-in-One Exam Guide, 6th Edition (p. 905-910). McGraw-Hill. Kindle Edition.