Our Business Impact Analysis Policy is a strategic guide for businesses looking to identify and understand the potential impact of interruptions on their critical processes and support functions. The policy stipulates periodic analysis (annually or when significant changes occur) to develop realistic recovery time objectives for each critical process. It also quantifies the impact of business interruptions, providing a business case for continuity strategies with an emphasis on customer recovery requirements.

An application and data criticality analysis is facilitated annually by the business solutions center, with inputs from various business units. The business continuity coordinators, under the supervision of the head of the legal department, retain the original document and sign off on the analysis. They also assess process interdependencies, dependencies on information technology and external third-party dependencies. The document ultimately aids in identifying necessary resources, including facilities, personnel, information assets and other requirements to ensure minimum operations at the recovery time objective.

According to this policy:

• A business impact analysis (BIA) will be periodically conducted to identify the most critical business processes.
• Recovery time objectives (RTOs) will be assigned to each critical business process due to the BIA.
• Business continuity coordinators will assess process interdependencies.
• Business continuity coordinators will formally identify the resource requirements necessary to satisfy minimum operations at the RTO.