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Friday, 22 October 2010 16:05

What’s More Important?

Written by  GREIG FENNELL, FBCI

There has been a lot of discussion around the importance of conducting a business impact analysis (BIA) and a risk assessment (RA). Which is more important? Which should be done first? What I have learned over the years is they are both important and it doesn’t matter which gets done first, as long as they both get done! Both are necessary as they set the foundation and influence future proactive and reactive business continuity planning within the company. What people need to understand is that the BIA and RA evaluate two completely different data sets. The BIA evaluates the impact of not doing a particular business process over time and measures the quantitative and qualitative impacts of not doing the process. The RA evaluates the risks that could impact the location, the magnitude of the impact, and the relative probability of occurrence. These are two different data sets of information, but