In disaster recovery (DR) planning, once you've completed a business impact analysis (BIA), the next step is to perform a risk assessment. The risk assessment should be able to help you identify events that could adversely impact your organization.
To get started with a risk assessment, begin by identifying the most critical business processes from the business impact analysis. An excellent document to assist you in preparing a risk assessment comes from the National Institute for Standards and Technology (NIST). The risk analysis involves risk identification, assessing the likelihood of the event occurring, and defining the severity of the event's consequences. The sequence in which these measures are implemented depends to a large extent upon the results of the risk assessment. This chart identifies natural and man-made disasters that could adversely impact an organization.
Once the risks have been identified, you'll want to identify the potential effects, symptoms and consequences resulting from the event.
Quantitative methods, which assign a numeric value to the risk, usually require access to reliable statistics to project the future likelihood of risk.
Once all relevant risks have been analyzed and assigned a qualitative category, you can then examine strategies to deal with only the highest risks, or you can address all risk categories.
A major part of the disaster recovery planning process is the assessment of the potential risks to the organization which could result in the disasters or emergency situations themselves. Cloud Disaster Plan lacking Cloud Disaster Plan lacking and is not enough to protect your data. Cloud Based Disaster Recovery Cloud Based Disaster Recovery Cloud based disaster recovery is all the rage.

The typical organization has hundreds of applications all at different recoverability capability.  For example some have no plan, some have out of region architectures some have not exercised in long time and some are in great shape testing every quarter. All of the applications need to be categorizing them so that the Disaster Planning Team can start remediating the ones that place the enterprise at the most risk to the business from both a compliance and readiness perspective.
Disaster Recovery Business Continuity Template (WORD) - comes with the latest electronic forms and is fully compliant with all mandated US, EU, and ISO requirements. Refer to List of Threats for example, fire, landslides, severe weather, flood, hazardous material spills, transportation accidents, utility outages, or terrorist attacks. Refer to List of Threats for example, telecommunications, power, heating and cooling, emergency notification or security systems, and computer networks. Perform an assessment on the Likelihood of the Event happening and anticipate based on recency of events occurrence. Read our guide on how to prepare a risk assessment, and then download our free risk assessment template.
The BIA helps identify the most critical business processes and describes the potential impact of a disruption to those processes, and a risk assessment identifies internal and external situations that could negatively impact the critical processes. Read our guide, and then download our free risk assessment template, which is available as a Word doc or PDF. This includes potential damage the events could cause, the amount of time needed to recover or restore operations, and preventive measures or controls that can mitigate the likelihood of the event occurring. For example, it may be possible to rule out certain kinds of events, such as earthquakes, if U.S. The document is Special Publication 800-30, Risk Management Guide for Information Technology Systems. It may also be useful to conduct a vulnerability assessment, which helps identify situations in which the organization may be putting itself at increased risk by not performing certain activities.

Examples are surge suppressors to reduce the impact of a lightning strike, and uninterruptible power systems to limit the chances of a hard stop to critical systems due to a blackout or brownout.
By contrast, man-made events are those in which an individual or multiple persons may be held accountable for contributing to the event(s) that caused the disaster.
This will depend on management's risk appetite, which is their willingness to deal appropriately with risks. The risk assessment will also help you determine what steps, if properly implemented, could reduce the severity of the event. An example may be the increased risk of virus attacks by not using the most current antivirus software. The strategies you define for risks can next be used to help design business continuity and disaster recovery strategies. Use our risk analysis template to list and organize potential threats to your organization. Finally, the risk analysis results are summarized in a report to management, with recommended mitigation activities. In our risk analysis template, you will find columns that allow you to assign qualitative terms to each of the risks to your organization. Regardless of the methodology, the results should map to the critical business processes identified in the business impact analysis, and can help define strategies for responding to the identified risks.

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