business impact analysis (BIA)

  

Definition

Management-level analysis aimed at identifying a firm's exposure to sudden loss of critical business functions and supporting resources, due to an accident, disaster, emergency, and/or threat. BIA involves assessing both financial and non-financial (customer service, market confidence, creditor or supplier confidence) costs during business disruption and business restoration periods.

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  • The business impact analysis had concluded that we were protected from risk as our insurance policies had depth and breadth.

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  • With a proper upper management team we can see that the business impact analysis has very much differed from when we had the old management team.

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  • After the hurricane, management ordered an emergency business impact analysis to determine how quickly they'd be able to resume normal operations.

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