BIAQ FAQ for Part 2: Impact Area Of Business Functions v2
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These are some of the observations made during the review of Part 1: Identification of Critical Business Functions. Participants completing this form should review this list before submission.
- Should there be an impact identified as "Hard" in column (d), then column (e) must have a physical number ($) as it should not be left empty. The formula should be inserted into column (f) and the financial impact should be inserted into column (e).
- The estimation can be based on the revenue for the last one year, divided by 52 weeks and divided by 4 weeks for each month to determine the loss for one week.
- Some of the losses especially due to late payment will not result in a total loss of the total amount. You should consider the loss from the interest not collected rather than the absolute value of the original amount.
- What we are attempting to achieve is to provide Executive Management with a monetary number, either $10,000, $100,000 or $1,000,00, etc. The accuracy is not important e.g. trying to get to the nearest decimal point $54,465.25 should be seen as $55,000.
- When identifying hard or soft impact, it is important to describe the impact. This is always not completed correctly as it is either left as "H" or "S" with no description of the impact.
- Function such as hosting meeting and visitors, and organizing external events are important but not critical should there be a disaster. The reason being that the business function should be treated as an incident to cancel the visit, defer or move the meeting to another location.
- Name of the function is related to IT e.g "Server Data Access." There is a need to make sure that the business function reflects the business processes as accessing to IT is one of its key sub-processes.