Business Impact Analysis (BIA): Key to Organizational Resiliency

So, now that you have a better understanding of what a BIA is and how it can help ensure operational resilience for your organization, you may need a little help with some tips on how to conduct an effective BIA. Here are 10 recommended steps to consider for BIA success:

Step 1: Validate your organization’s mission- essential functions to guide the process

Step 2: Determine the scope of business functions for your organization. Think in terms of departments or divisions. Ask, which departments/locations/divisions should be included as part of your Business Impact Analysis? Make a list. There may be more than you initially realize. A hospital system, for example, could encompass 30 departments or more.

Step 3: Determine which key stakeholders and/ or business leaders who need to be involved in your BIA and then schedule a project kick-off meeting. During this meeting, explain what the project is, why you’re doing it, how it benefits the business, and what the expectations are for participants.

Step 4: After the kick-off meeting, send out business process pre-work, which are generally questionnaires. This is a tool to collect important data. In our experience, in some organizations, some business leaders may struggle with the questionnaire. A stumbling block may be created by a narrow focus on systems when they should focus on key processes instead. Try to keep your participants focused on about five high-level processes to keep them out of the weeds.

Step 5: Once your participants have completed the pre-work, schedule and conduct follow-up interviews. These interviews will help you validate the information they’ve shared and can help you understand their answers with assurance they’ve included everything you need.

Step 6: Analyze results and prepare a findings report.

Step 7: Share report results with stakeholders.

Step 8: Address gaps identified by the questionnaire and interviews. What is the bridge between needs and capabilities?

Step 9: Update your BIA whenever your environment changes.

Step 10: Perform a comprehensive BIA at least every three years, more frequently if applicable and possible.