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Business Impact and Risk Assessment

Published by: Info-Tech Research Group

Published: Nov. 1, 2009


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Abstract

The purpose of a Business Impact and Risk Assessment is to determine the approximate business value of IT assets, to assess the impact the loss of those assets would have on business units, and to assign recovery priorities to the assets.

The Business Impact and Risk Assessment involves seven steps:
  • Assess threats and risks.
  • Assess data center vulnerabilities.
  • Document DRP basics.
  • Assign value to IT assets.
  • Assign prioritization to assets.
  • Determine costs versus risk tradeoff.
  • Maintain risk plans.
When a Business Impact and Risk Assessment is completed, you will have a complete list of the risks specific to each IT asset, as well as risk reports and profiles for the business impact analysis. Consider revisiting your Business Impact and Risk Assessment annually.

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