Whether because of common sense or because of regulation, your credit union needs to be prepared for the worst. So, how do you start preparing for the worst? With a business impact analysis.
In this blog, we’ll give a brief overview of what a business impact analysis is. We’ll discuss the different components of a business impact analysis, what it’s used for, and why your credit union needs one.
What Is a Business Impact Analysis?
In a very real sense, a business impact analysis is the basis or foundation of all your planning. What kind of planning? Business continuity planning and disaster recovery planning.
And, if you’re weird or very meticulous, maybe also office party planning. Maybe.
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