A business impact analysis (BIA) is the process of identifying and assessing the potential impacts a disruption or incident could have on an organization. A BIA helps organizations understand and prepare for these potential obstacles, so they can act quickly and face challenges head-on when they arise. A BIA tells the organization what to expect when unforeseen roadblocks occur, so they can make a plan to get their business back on track as quickly as possible. Therefore, a BIA is the best option to anticipate the effects of a disaster.
References:
* 10: Business Impact Analysis (BIA): Prepare for Anything [2023] * Asana
* 11: Definition of Business Impact Analysis (BIA) - IT Glossary | Gartner Information Technology
* 12: Business impact analysis (BIA) is a method to predict the consequences of disruptions to a business, its processes and systems by collecting relevant data.