Business Impact Analysis Policy for HIPAA Contingency Plan

At the core, a Business Impact Analysis Policy is the compass guiding organizations through potential disruptions. From natural disasters to cyber threats, this policy assesses the ripple effect of unforeseen events on crucialBusiness Impact Analysis Policy business functions.

Why Business Impact Analysis Policies Matter
1. Resilience Reinforcement
In the face of adversity, resilience becomes a company’s armor. A meticulous BIA policy fortifies an organization by identifying vulnerabilities and devising strategies to strengthen them.

2. Operational Continuity
Smooth operations are the lifeblood of any enterprise. A well-structured BIA policy ensures a seamless flow even when facing challenges, safeguarding productivity and reputation.

3. Risk Mitigation
Proactive identification of risks allows for strategic mitigation. A BIA policy pinpoints potential threats, empowering businesses to implement preventive measures and minimize the impact of disruptions.

Purpose:

The Business Impact Analysis Policy document establishes the activities that must be carried out by each Business Unit, Technology Unit, and Corporate Units (departments) within the organization.

All departments must utilize this methodology to identify the processes they perform, the required resources to perform those processes, the timeframes in which those processes need to be recovered, any supporting dependencies, resources, facilities, etc, and the potential financial, operational, and legal/regulatory impact for the processes.

Table of Contents

TERMINOLOGY     
ACCOUNTABILITY
COMPLIANCE        
REVISION HISTORY
ENDORSEMENT    

I.  POLICY OVERVIEW

A. Purpose
B. Scope
C. Ownership Roles & Responsibilities
D. Review Process
E. Reporting Process
F. Update Frequency and Annual Review
G. Approval

II. BIA REQUIREMENTS

A. BIA Completion
B. Business Process Identification
C. Business Process Recovery Time Objective
D. Financial Impact
E. Operational Impact
F. Legal and Regulatory Impact
G. Manual Work-Around Procedures
H. Required Resource

III. BIA RESULTS

A. Overall RTO for Department
B. Communication
C. Retention of BIA Survey

APPENDIX

APPENDIX A:  BUSINESS IMPACT ANALYSIS STANDARDS

To view a specific section of this Business Impact Analysis Policy document, please contact us at Bob@training-hipaa.net or call us at (515) 865-4591.