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Business Impact Analysis
The purpose of a Business Impact Analysis is to quantify the impact to the business that a loss of service would have. This impact could be a ‘hard’ impact that can be precisely identified – such as financial loss – or ‘soft’ impact – such as public relations, morale, health and safety or loss of competitive advantage. The BIA will identify the most important services to the organization and will therefore be a key input to the IT Service Continuity strategy.
Specific formats in which loss may occur include:
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Lost income
Additional costs
Damaged reputation
Loss of goodwill
Loss of competitive advantage Breach of law, health and safety
regulations
Risk to personal safety Immediate and long-term loss of
market-share
Political, corporate or personal
embarrassment
Loss of operational capability, for
example, in a command and control environment
Why do Risk Assessments?
A major driver in IT Service Continuity management is the likelihood that a disaster or other serious service disruption will actually occur. Risk assessment must be done to ensure that all possible probable threats have been considered. Those threats that are more likely to occur will be given more consideration during the Risk management stage where countermeasures are defined and implemented.
Risk - Something that might happen
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