Terms & Glossaries of Shipping and Trading
BIA (Business Impact Analysis)
A process that identifies and evaluates the potential effects (financial, life/safety, regularltory, legal/contractual, reputation etc) of natural and made-made events on business operations.
A business impact analysis (BIA) predicts the consequences of disruption of a business function and process and gathers information needed to develop recovery strategies. Potential loss scenarios should be identified during a risk assessment.
©2023 Seabay International Freight Forwarding Ltd. All rights Reserved