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We write a lot about BIAs in our blog and ebooks, and no wonder: the business impactanalysis is the cornerstone of a sound business continuity program. We invite you to use any or all of these free resources to help you in understanding and conducting BIAs (or in working with a consulting firm to do so). A great place to start.
As business continuity consultants, we at MHA often encounter a situation we call “inviting by title,” which is when our contact at the client company has us meet with high-level company executives rather than mid-level employees with detailed tactical knowledge. or “What systems does finance use to execute process X?”).
Risk management describes how a business identifies, analyzes, and responds to threats and risk factors that impact its profitability, viability, and strategic goals. We will discuss risk management, the critical importance of business impactanalysis (BIA) , and the essential steps involved in a thorough risk assessment.
Related on MHA Consulting: Who Does What: The Most Critical Job Roles in IT Disaster Recovery The Price of Neglecting IT/DR Being a business continuity consultant can be frustrating. Business needs are determined by a Business ImpactAnalysis (BIA) completed before disaster recovery planning begins.
These types of assessments can be used to evaluate an entire organization (management consulting), or any specific system (IT audit), process or project. The second phase of an audit must include an analysis of the information as well as a gap assessment against pre-determined criteria (e.g.
These types of assessments can be used to evaluate an entire organization (management consulting), or any specific system (IT audit), process or project. The second phase of an audit must include an analysis of the information as well as a gap assessment against pre-determined criteria (e.g. Business ImpactAnalysis.
In addition to preventing severe financial losses, it can prevent companies from “cl osing their doors” To celebrate April’s Financial Literacy Month, I will share examples of what happens when you do not have a plan and outline strategic steps on how to build a resilient organization during the next crisis. This is a mistake.
How RTO Impacts Business Continuity and Recovery 1. Strategic Planning Establishing an RTO requires a thorough understanding of business processes and their dependencies. This insight is crucial for strategic planning and resource allocation. To mitigate this, we perform a Financial ImpactAnalysis alongside the BIA.
Another definition from the Federal Continuity Directive 1 is, Continuity Plan is a documented plan that details how an individual organization will ensure it can continue to perform its essential functions during a wide range of events that can impact normal operations. Business ImpactAnalysis Key Findings. External contacts.
We’ll look at examples pertaining to incident management, the business impactanalysis (BIA), third-party vendors, risk assessments and exercises, and time and effort. We recently worked with a healthcare organization that used its BIA to tie each of its business processes to a strategic core service (e.g., it supports.
Your organization made a strategic decision to outsource most of the services which are not your business differentiator. Is it aligned with your business continuity requirements ( Business ImpactAnalysis - BIA anyone)? We hired a consultant to make a plan a few years ago, so we’re OK. Business ImpactAnalysis.
Related on MHA Consulting: Who’s the Boss? The maturity levels typically range from ad-hoc or reactive risk management practices, to proactive and integrated risk management practices that are aligned with the organization’s strategic objectives. The goal should be to gradually move toward a more comprehensive, mature approach.
Related on MHA Consulting: Who’s the Boss? The maturity levels typically range from ad-hoc or reactive risk management practices, to proactive and integrated risk management practices that are aligned with the organization’s strategic objectives. The goal should be to gradually move toward a more comprehensive, mature approach.
By evaluating all of the various types of risks that an incident could bring up – such as financial, reputational, customer, legal or strategicimpact – you’re able to adequately determine which steps must be included in your BCP to minimize those impacts.
The cost of putting things right is certainly always financial; but the impact of crises is usually a lot more: remember to put value on inconvenience, reputation and goodwill. In any case, says Charlie Maclean-Bristol of business continuity consultants, PlanB Consulting, “Not all risk mitigation measures needs be expensive.
The cost of putting things right is certainly always financial; but the impact of crises is usually a lot more: remember to put value on inconvenience, reputation and goodwill. In any case, says Charlie Maclean-Bristol of business continuity consultants, PlanB Consulting, “Not all risk mitigation measures needs be expensive.
Business Continuity is NOT a Data Backup Last Updated on May 31, 2020 by Alex Jankovic Reading Time: 5 minutes There is something that bothers many Management Consultants in the Business Continuity and Information Technology field. Business Continuity is not a data backup. Let us repeat. Business Continuity is not a data backup.
There is something that bothers many Management Consultants in the Business Continuity and Information Technology field. It is a strategic and tactical capability of the organization to plan for and respond to incidents and business disruptions to continue business operations at an acceptable predefined level. Let us repeat.
Once you know your critical functions you should also conduct a risk assessment and then a business impactanalysis that allows you to properly assess situations that could negatively impact your business. Far from being a mere cost center, business continuity is a strategic investment.
How to prepare for a NIST Audit: Checklist What is a security impactanalysis? By integrating these core components, the NIST CSF facilitates a strategic, flexible, and scalable approach to cybersecurity, allowing organizations to adapt the framework according to their specific needs, risk levels, and business environments.
How to prepare for a NIST Audit: Checklist What is a security impactanalysis? By integrating these core components, the NIST CSF facilitates a strategic, flexible, and scalable approach to cybersecurity, allowing organizations to adapt the framework according to their specific needs, risk levels, and business environments.
The benefit of this book for me, as a business continuity practitioner, is within the tactical and operational insights and ideas it gives, rather than the strategic change I suspect the authors would like. I will discuss my thoughts on the strategic ideas laid out in the book later in this review. Not to improve recoverability’.
The benefit of this book for me, as a business continuity practitioner, is within the tactical and operational insights and ideas it gives, rather than the strategic change I suspect the authors would like. I will discuss my thoughts on the strategic ideas laid out in the book later in this review. Not to improve recoverability’.
The critical point a business needs to understand is that the program implementation and its maturity will require some time and effort across the organization.
Section 4 - Business ImpactAnalysis. 4 – Business ImpactAnalysis. 4 – Business ImpactAnalysis. 4 – Business ImpactAnalysis. 4 – Business ImpactAnalysis. 4 – Business ImpactAnalysis. 4 – Business ImpactAnalysis.
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