Choose the answer that correctly lists the seven steps of a BIA.

a. develop the contingency planning policy statement; conduct the business impact analysis; identify preventive controls; identify critical resources; identify the maximum downtime; identify recovery priorities; and develop the BIA report

b. identify the environment; identify stakeholders; identify critical business functions; identify critical resources; identify the maximum downtime; identify recovery priorities; and develop the BIA report

c. develop the contingency planning policy statement; conduct the business impact analysis; identify preventive controls; create contingency strategies; develop an information system contingency plan; ensure plan testing, training, and exercises; and ensure plan maintenance

d. identify the environment; identify stakeholders; identify critical business functions; create contingency strategies; develop an information system contingency plan; ensure plan testing, training, and exercises; and ensure plan maintenance

develop the contingency planning policy statement; conduct the business impact analysis; identify preventive controls; create contingency strategies; develop an information system contingency plan; ensure plan testing, training, and exercises; and ensure plan maintenance

Explanation:

Business impact analysis is defined as a process to determine influence of interruptions to critical business processes. The interruption can be caused by emergencies, disaster or accident.

BIA analyses risk associated with various business vulnerabilities and develops strategies to minimise the associated risks.

The following steps are take when doing BIA in a business

develop the contingency planning policy statement;

conduct the business impact analysis;

identify preventive controls;

create contingency strategies;

develop an information system contingency plan;

ensure plan testing, training, and exercises;

ensure plan maintenance

answera major piece of legislation affecting the financial industry and containing significant privacy provisions for individuals;