Explanation
A business impact analysis (BIA) is a process that helps identify and evaluate the potential effects of disruptions or incidents on the organization's mission, objectives, and operations. A BIA should be periodically executed to verify the effectiveness of the controls that are implemented to prevent, mitigate, or recover from such disruptions or incidents12.
According to the CISM Manual, a BIA should be performed at least annually for critical systems and processes, and more frequently for non-critical ones3. A BIA should also be updated whenever there are significant changes in the organization's environment, such as new regulations, technologies, business models, or stakeholder expectations3. A BIA should not be used to validate vulnerabilities on environmental changes (A), analyze the importance of assets (B), or check compliance with regulations , as these are not the primary purposes of a BIA.
References: 1: IR 8286D, Using Business Impact Analysis to Inform Risk Prioritization and Response | CSRC NIST 2: CISM Domain 4 Preview | BCP - Business Impact Analysis (BIA) - YouTube 3: CISM ITEM DEVELOPMENT GUIDE - ISACA