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Business Continuity Planning

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ALSO CALLED: Continuity Planning, BCP
DEFINITION: Business impact analysis (BIA) is an essential component of an organization's business continuance plan; it includes an exploratory component to reveal any vulnerabilities, and a planning component to develop strategies for minimizing risk. The result of analysis is a business impact analysis report, which describes the potential risks specific to the organization studied. One of the basic assumptions  … 
Definition continues below.
Business Continuity PlanningMultimedia (View All Report Types)
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BUSINESS CONTINUITY PLANNING DEFINITION (continued): …  behind BIA is that every component of the organization is reliant upon the continued functioning of every other component, but that some are more crucial than others and require a greater allocation of funds in the wake of a disaster. For example, a business may be able to continue more or less normally if the cafeteria has to close, but would come to a complete halt if the information system crashes. As part of a disaster recovery plan, BIA is likely to identify costs linked to failures, such as loss of cash flow, replacement of equipment, salaries paid to catch up with a backlog of work, loss … 
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