Business Impact Analysis (BIA) is an “evil must” ( necessity ) in business continuity planning. BIA, is the process by which all business functions are categorized based on their urgency to be resumed after a disruption. Therefore, we conclude by saying analyzing the business impact is most crucial keeping in mind the time, in case of occurrence of any threat or unexpected incident. Support functions such as IT, Finance, HR and Administration are also categorized based on the dependencies of the core business functions.
The cause of the incident and its immediate impacts will determine the time taken for initial response. It involves accessing both financial and non-financial (customer service, market support, supplier confidence) cost functions of the organization, during business disruption and business restoration periods.

It can be uses to consider the impact of disruption under other assumptions, such as relocation or reorganization, to identify and provide required resilience.
Business Impact Analysis is a management level analysis, which throws light on critical business processes and identifies which business units, operations and processes are vital for the organization’s existence. It is a crucial step because it provides the justification to management for investing in business continuity solutions. In such cases, potential losses would be analyzed, studying the interdependencies of the activities within the business. The impacts and timescales of a disruption need to be planned, to determine the likely priorities after the incident. A BIA looks at each product, service, process and activity within the organization, understands its significance to the organization and determines the impact over time that would result if it were to be disrupted.

The BIA will enable the organization to select an appropriate approach to and detailed strategy for business recovery after a disruption.
The point in time when a business function or process is disrupted can have a significant bearing on the loss sustained.

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