Business Impact Assessment and disaster management
A business impact assessment (BIA) is designed to evaluate the impact of a disaster upon the functioning of the organization and ideally, determine ways for the organization to remain operational, even during the stressors of a full-blown attack on its informational systems or a widespread catastrophe like a national disaster. "BIA report quantifies the importance of business components and suggests appropriate fund allocation for measures to protect them. The possibilities of failures are likely to be assessed in terms of their impacts on safety, finances, marketing, legal compliance, and quality assurance. Where possible, impact is expressed monetarily for purposes of comparison. For example, a business may spend three times as much on marketing in the wake of a disaster to rebuild customer confidence" than it did before the catastrophe (BIA, 2013, Search Storage). Another definition of a BIA is "to identify...
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