Business Impact analysis on home business
Assume you have a home business (Ex: Online tutoring or product selling). Perform Business Impact analysis on home business.
5-7 pages single-spaced.
1. BIA identifies business functions and quantifies the impact a loss of these functions may have on business operations.
These range from:
- Impact on property
- Impact on finance
- Impact on safety
- Impact on reputation
- Impact on life
2. BIA’sidentification of mission-essential functions and identification of critical systems.
- A critical service/system is defined as follows:
- A set of activities/systems that the organization carries out in the production of a product or while providing services to its customers, that are so important to the success of the organization that disruption to the service would severely impact the organization’s operations or business.
- You should attempt to identify how an organization/aligns its cybersecurity management activities to the performance or production of its critical services. Often, an organization's product suite provides a useful starting point for identifying a service. The following questions can help users identify their organization’s critical services:
- Which services comprise a significant or intrinsic portion of the organization’s mission? Which services are externally focused Which services have identifiable ownership over assets that contribute to the delivery of the service?
- Below are some examples of organizations and their typical critical services that might be selected as part of a BIA:
3. A goal of a BIA is to identify any single points of failure that would cripple or detract an organization’s availability to conduct its function(s).
4. other components of a business impact analysis:
- A Privacy Impact Assessment - Used to identify and mitigate privacy risks
- A privacy threshold assessment. - Can determine if a system contains personally identifiable information (PII)
- The BIA report should document the potential impacts resulting from the disruption of business functions and processes. Scenarios resulting in significant business interruption should be assessed in terms of financial impact, if possible. These costs should be compared with the costs for possible recovery strategies.
- The BIA report should prioritize the order of events for the restoration of the business. Business processes with the greatest operational and financial impacts should be restored first.