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Lab 3.2

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LAB 6
What is the difference between a risk analysis (RA) and a business impact analysis (BIA)?
Risk analysis is a technique to identify and assess factors that may jeopardize the success of a project or achieving a goal. Business continuity planning "identifies an organization's exposure to internal and external threats and synthesizes hard and soft assets to provide effective prevention and recovery for the organization, while maintaining competitive advantage and value system integrity”. In addition to some disagreement among business continuity professionals regarding the BIA and risk assessment definitions and outcomes, disagreement also exists regarding the order of execution: whether it is best to perform the risk assessment before, during, or after the BIA. While many professionals argue that it is best to perform the risk assessment before the BIA to establish the risk landscape in which the organization operates, Evaluation argues the opposite.

What is the difference between a Disaster Recovery Plan and a Business Continuity plan?
A disaster recovery plan is a documented process or set of procedures to recover and protect a business IT infrastructure in the event of a disaster. Such plan, ordinarily documented in written form, specifies procedures an organization is to follow in the event of a disaster. Business continuity planning "identifies an organization's exposure to internal and external threats and synthesizes hard and soft assets to provide effective prevention and recovery for the organization, while maintaining competitive advantage and value system integrity”. To emphasize the importance of disaster recovery plans and business continuity plans, a few sobering statistics from a report published by Continuity Central about the impact of disasters on businesses: 70% of businesses involved in a major fire fail within 3 years, One out of two…...

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