|Business Impact Analysis (BIA) Steps|
| ----- |
|1. Identify company's critical business functions|
|2. Identify resources these functions depend upon|
|3. Calculate how long these functions can be without these resources|
|4. Identify vulnerabilities and threats to these functions|
|5. Calculate risk for each different business function|
|6. Develop backup solutions for resources based on tolerable outage times|
|7. Develop recovery solutions for the company's individual departments and for the company as a whole|
According to ISACA, the most important aspect of a Business Impact Analysis (BIA) is the identification and assessment of critical assets and resources. This helps ensure that the organization can effectively prioritize recovery efforts based on the impact to the business.
While risk appetite, recovery scenarios, and critical applications in the cloud are relevant, the completeness of the critical asset inventory remains the primary focus in the context of the BIA. ISACA emphasizes understanding which assets, processes, and systems are essential for business continuity and ensuring that these are included in the BIA process. This allows the organization to plan for and respond to potential disruptions effectively.
Recovery scenarios identify the steps and processes needed to restore critical business operations and services in the event of a disruption, disaster, or incident. This assessment ensures that there is a clear understanding of how recovery will be executed to minimize downtime, financial loss, and reputational damage.
While risk appetite (option A) is also an important consideration in business continuity planning, it typically pertains to the organization's willingness to accept risks rather than the specific assessment conducted during the BIA process. The completeness of the critical asset inventory forms the foundation for evaluating risks and developing appropriate continuity strategies based on the organization's risk appetite. Therefore, assessing the completeness of the critical asset inventory is generally considered the MOST important aspect of conducting a business impact analysis.
Answer is B.
For those picking A, how do you assess the risk appetite?🤣 Endeavour to look for the keyword in the questions before deciding on an option.
Its Risk appetite - in BCP - business impact analysis (BIA) needs to consider the risk appeitie as it has changed form before, and the new plan should align with it?
I think its A or C. Both seems like they could be correct. Both happen within a BIA. What say you?
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