I finished my learning journal on October 25, 2023, and on October 22, 2023, I started doing

my regular reading and research. I also went over all of the discussion, written, and learning
journal questions on this same day. I began my discussion assignment on the 23rd, Monday.
I had some limitations due to a lack of electricity and I was seriously sick due to the bad
weather these days.. On October 24, I turned in my discussion and completed my self-test.
On October 25th, a Wednesday, I answer to my classmates.

A business impact analysis (BIA) gathers information needed to create recovery plans while
predicting the effects of a company operation or process interruption. During a risk
assessment, potential loss scenarios should be known. Delivery delays or a provider's
inability to provide goods or services might also stop operations. There are a number of
feasible possibilities that need to be taken into account. Densifying and assessing the effects
of catastrophes on companies gives investors the notion to invest in mitigation and recovery
strategies. Ready.Gov (2021).

Take into account the impact; some to think about are:

Financial gain and lost sales
Delay in sales or profit
Expenses that have increased (e.g., costs associated with expediting, outsourcing, and
overtime work)
legal penalties
Loss of signed bonus agreements or contractual fines
Unsatisfied or defecting customers
a delay in current business plans
Disruption's timing and duration

A significant reference to the loss incurred will be made at the time when a firm operations or
a technique is discontinued. A store that has a break-in in the weeks leading up to the busy
holiday shopping season may lose a significant portion of its annual revenue. For many
organisations, a power outage lasting a few minutes would be a small annoyance, but one
lasting an hour may result in considerable losses. Shipping finished goods from a warehouse
can also prevent a short-term manufacturing interruption, but doing so for a product with high
demand could have a significant negative effect. Ready.gov (2021)

Ways to carry out a BIA

For a BIA, there are no established standards. Each company will use a different technique.
A BIA typically involves several phases and includes the following steps:
collecting data
assessing the data gathered
composing a report to summarise the results
delivering the findings to higher management.
An organisation may decide to include both internal and external team members in the
project team or choose to outsource the BIA to a skilled third party. In order to identify
significant business processes, resources, relationships, and other specifics, a thorough
form or survey is often produced. This information is crucial for determining how disruptive
an incident could be. Additionally, a business data education session is held for important
staff. Information may be gathered in a variety of methods, including automated surveys and
in-person polls. Additionally required are follow-up interviews. Sliwa C (2021)

BIA analysis of the findings

The BIA analysis part's objectives are to identify the most important business systems and
functions, as well as the personnel and technological resources needed to ensure that
operations run smoothly. It also aims to determine how long it will take to recover each
function in order for the business to resume operations as closely as possible to their pre-
crisis levels. Additionally, the analysis is manual or computer-assisted. Sliwa C (2021)
Determining how a business's operations affect its revenue and estimating the semi-
permanent effects of losses in market share, brand equity, or client base are challenges.
Consider the following effects: postponed sales or financial gain; increased labour costs;
regulatory fines; penalties for signed agreements; and unsatisfied customers.

The function of BIA in designing disaster recovery

A BIA will likely identify costs associated with failures as part of a disaster recovery plan,
such as lost cash flow, equipment replacement, wages paid to make up for work backlogs,
lost profits, personnel, and data, etc. The likelihood of failures may be estimated in terms of
how they will affect things like safety, finances, marketing, brand recognition, legal
compliance, and quality control. For comparative purposes, the impact is represented
monetarily whenever possible. The BIA should evaluate the long-term effects of a disaster
and make it easier to decide on recovery strategies, top priorities, and resource and time
requirements. Sliwa C (2021)

References;
Ready.gov (2021) Business Impact Analysis Retrieve from https://www.ready.gov/business-
impact-
analysis#:~:text=A%20business%20impact%20analysis%20(BIA,identified%20during%20a
%20risk%20assessment.
Sliwa C (2021) business impact analysis (BIA) Retrieve from
https://searchstorage.techtarget.com/definition/business-impact-analysis#:~:text=Business
%20impact%20analysis%20(BIA)%20is,an%20organization's%20business%20continuance
%20plan