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A Business Impact Analysis (BIA) is crucial in creating a business continuity plan as it helps identify and evaluate the potential effects of an interruption to critical business operations. It provides valuable insights that guide the development of the plan, ensuring that it effectively addresses the most significant risks and vulnerabilities. Without a BIA, a business continuity plan may not fully protect the business in the event of a disruption.
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Once BIA and any gap analyses are ready, create your business continuity plan. "Initially, the team should create a draft document, and then they can present it to the senior executives who have to sign off on it," Elsey says. When it comes to a business continuity plan, no area of your business should be ignored. According to Elsey: "Consideration and review should move through the entire company, including every division and into each department, role and function."
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Ensure that your business continues to thrive under unfavorable conditions with our Business Continuity deck. This presentation includes practical fra...
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