Mitigating IT Risk with Business Impact Analysis
The company is a leading national construction company.
The company had forecasted strong business growth based on EBITDA margin trends. However, during an internal audit, the IT risk audit recommended that the company’s IT organization update its Business Impact Assessment (BIA) and related programs to minimize organizational risk exposure.
Our experienced professionals teamed to conduct a strategic review of the company’s current Business Continuity strategy and plans. They successfully validated key components of the BCP against current BCP best standards. The SYNOVAS team delivered firm, sound recommendations for plan improvements. Their recommendations ensured that business continuity plans met the standards for Internal Audit and key stakeholders, and that they would serve IT and thus the business well in the event of a disruption or disaster.
SYNOVAS leveraged its “in flight” approach, reviewing existing assessments and previous Business Impact Analysis results (per client request). The team conducted a concurrent state of Business Continuity/Disaster Recovery while reviewing documentation and interviewing stakeholders.
The team used the best practices approach for Business Continuity Planning (see below) coupled with a SYNOVAS Business Continuity Planning Methodology.
* Senior Strategy and Program Management Consultant
* Master Business Continuity and Disaster Recovery Planner
* C-Level Advisor
SYNOVAS delivered and updated Business Impact Analysis, updated Business Continuity Plan, as well as a roadmap for continuous Business Continuity validation. The team was able to validate the current inventory of IT applications and systems, classify critical systems, and map business activities to the Applications/Systems inventory.
SYNOVAS worked with stakeholders to help the compnay define and validated Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs), as well as test IT organizations's current recovery capabilities.