This blog is part of our series on risk management. For more information on other risk topics see:
- Protect your most important investment—your business
- Types of Operational Risks
- Benefits of ISO: Preparedness to Sell to Investors
- What are Global Risk Management Standards e.g. ISO 22301
Propel Flow is a consultancy specializing in enterprise risk management, governance and compliance. No company is too big or small.
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Business Impact Analysis (BIA):
Our Business Impact Analysis assesses the impact of critical processes going down. We prioritize the critical processes in your business based on how much time your company can tolerate these disruptive incidents which create downtime in systems or operations.
We measure the maximum allowable downtime (how long the processes can be out of action before the business is impacted financially), recovery time objective (key timeframes to recover from an incident), and recovery point objective. The recovery point objective analyses situations when data is lost, both at the point when the data can be recovered and also at the point where data is completely lost. The recovery point objective also assesses what the backup cycles are, and a contingency plan to recover data.
Phase 1: For Critical Functions
During the initial phase of our risk management consulting process, we undertake a detailed assessment of the critical departments in your company. We look at the high-level structure of your business to define what your most critical operations functions are (e.g. which teams are the foundation to deliver your product or service). We then conduct internal audits on these operational departments to provide you with targeted risk management strategies to protect your most important assets.
Phase 2: Other Dependencies
Our next phase then repeats Business Impact Analysis & Comprehensive Risk Assessment, but this time focusing on the remaining departments and management reviews critical to your organization’s success. During this phase, we identify key dependencies between teams that have a substantial impact on your revenue, costs, and overall risk exposure.
More value in less time
Our unique approach provides you with much more value in a shorter timeframe compared to other agencies. Focused deep dives allow us to provide you with a comprehensive understanding of your critical risks and what key actions you need to take in order to prevent these risks. To learn more, schedule a free introductory session with us.