When it comes to keeping your business up and running, it is all about the time factor. Time determines how fast you can recover business operations in the event of an outage or natural disaster. If you have already completed a risk assessment, the business impact analysis ensures that you do not incur additional expenses which can result from slow recovery time.
Although you may have already completed a risk assessment and you know what critical business operations must be recovered, this will not matter unless you can recover them within a reasonable amount of time. By conducting a business impact analysis this will ensure efficient business continuity in the event of a catastrophe.
So what are some of the key components you should consider when conducting a business impact analysis?