Physical damage to a building, destruction of machinery, or even an electrical power outage; what is your plan of action if any of these were to happen to your business? If you hesitated for even a second, it might be time to consider creating a business impact analysis. A business impact analysis, or BIA, helps you understand the effect a disaster can have on your business. With this information you will be able to develop a recovery strategy as well as a mitigation strategy to limit the impact of a disaster. Let us show you how to get started on your own BIA so that you can improve your disaster recovery (DR) plan and improve confidence.
Risk assessing is the process of identifying potential risks that could harm an organization. A risk assessment template helps you identify the hazards that could negatively impact your business and the extent of that negative impact. Correctly identifying the risks your business could face could help reduce the severity of any potentially damaging event.
Making decisions about business continuity (BC) and disaster recovery (DR) can be a CIO’s worst nightmare. Planning, implementing and testing a strategy can take months and sleepless nights. Additionally, some CIOs face the added struggle of small budgets, fewer resources, and a mandate for agility to remain competitive. Add them all up, and you get an extremely difficult task task.
No business owner wants to think about the fact that they might be struck by a disaster, natural or manmade. However, there are many disasters a business can face that may be devastating. Anything can happen, from a hurricane to a cyber attack to a key employee suddenly becoming a problem rather than an asset.
We often hear about the importance of disaster recovery and backup to the success of our businesses. Often lumped together under the umbrella "BDR", backup and disaster recovery are mentioned so much in the IT industry that they seem to be more like buzz words than actual business solutions. For this reason, backup and DR have become heavily associated terms, sometimes used interchangeably.
In the midst of all of this jargon and confusion, the crucial thing to understand is that backup and DR are NOT one in the same, but two separate concepts. These two concepts are, however, both important to include in your business strategy. For the purpose of creating two plans (one for backup and one for DR) you will first need to understand the difference between the two.