Stage 2 - Assess the risks
- what are the most likely and greatest risks to your business?
- how likely is it to happen?
- what effect will it have?
Having undertaken a Business Impact Analysis (BIA), it's important you assess the risks to the most critical aspects of your business you've identified.
Using this information, you should identify alternative strategies to mitigate loss and maintain your organisation's ability to deliver its critical functions throughout any interruptions.
Business continuity strategies
You may consider:
- accepting the risk - change nothing
- transferring the risk - apply for insurance, so spread the risk
- mitigating the risk - plan for business continuity