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Business Impact Analysis Agency, Board, or Commission Name: _Liquor Control _Commission ___ ___ Rule Contact Name and Contact Information: _Rachel Herrmann, Rachel.Herrmann@lcc.ohio.gov, 6149952216___Regulation/Package

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What is business impact analysis?

Business impact analysis (BIA) is a process that helps organizations identify and evaluate the potential effects of disruptions to their business operations. It aims to determine the critical business functions and the impact of disruptions on those functions, measuring both qualitative and quantitative implications.

Who is required to file business impact analysis?

Typically, organizations across various sectors, especially those that are regulated or have significant operational risks, are required to conduct a business impact analysis. This includes industries like finance, healthcare, and critical infrastructure. It is generally performed by business continuity professionals, risk managers, and compliance officers.

How to fill out business impact analysis?

To fill out a business impact analysis, follow these steps: 1) Identify key business functions and processes; 2) Assess the potential impact of disruption on these functions; 3) Determine the criticality of each function; 4) Estimate recovery time and resource requirements; 5) Document the findings in an organized format, such as a template or report.

What is the purpose of business impact analysis?

The purpose of business impact analysis is to provide insights into how disruptions could affect the organization, help prioritize recovery efforts, inform risk management strategies, and ensure that resources are allocated effectively to maintain business continuity.

What information must be reported on business impact analysis?

Information that should be reported in a business impact analysis includes: 1) Identification of critical business functions; 2) Analysis of the impact of disruptions; 3) Time criticality for each function; 4) Recovery time objectives (RTO) and recovery point objectives (RPO); 5) Required resources for recovery; 6) Dependencies and interdependencies among functions.

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