Methods for Establishing Component Priorities Assignment

Methods for Establishing Component Priorities - Assignment Example On the other hand, BIA scenarios and components also form an important way of establishing component priorities during business impact analysis (Roebuck, 2011). For example, an analysis of what happens in different scenarios may be used to provide essential data on the nature of threats faced and the possible impacts or scenarios in the event of an emergency such as data security lapse. Financial and service impact of components not being available is another aspect of business impact analysis that can also be used as a method of establishing component priorities. This is particularly because the financial and service impact analysis can provide details and information related to the potential financial consequences or monetary impacts of a given component. Lastly, recovery time frameworks are critically significant in addressing the recovery time requirements including the maximum time that the business can tolerate when certain business functions are absent, in order to help the coordinators in the identification of the most critical, short term, medium term as well as long-term intervention measures that need to be undertaken. Business enterprises revisit the common business operations and processes while developing business impact analyses. At the initial stage, the business first discusses the critical business operations through the creation of a set constituting every operational area of the business together with the SME associated with each area (Barnes, 2001). The role of the SMEs is to brainstorm then generate a set of questions to pose to other areas followed by a compilation of the results.