A business impact analysis (BIA) gathers data necessary to create recovery strategies and forecasts the effects of a business function or process disruption. A risk assessment should identify potential loss situations.
A risk assessment report is fundamentally expanded upon in a business impact analysis report. A business impact analysis study tries to forecast how any identified risks would really harm the firm if they materialize, as opposed to a risk assessment report, which looks to identify risk factors.
Process follows five key steps.
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