Business Continuity Impact and Risk Assessment

Overview

Following a Cybersecurity Risk Assessment, an emerging biotech company discovered several applications were lacking contingency plans for possible outages. Further, the company was unclear about how the unavailability of these applications would impact business continuity and overall performance.

How We Helped

To develop the appropriate contingency and recovery plans, the biotech partnered with Triverus to conduct a business continuity assessment. Triverus’ Life Sciences team was charged with identifying key business processes and the associated applications on continued business performance and determining the impact of unavailability. Activities included:

Utilizing a proven assessment methodology to evaluate the current environment and its capabilities via:

• Facilitating a series of discovery workshops across the organization to identify key business processes and the supporting applications used.
• Inventorying business applications and corresponding core processes by business area, and ranking items in level of importance to business continuity.
• Documenting current business continuity processes and ad-hoc procedures.

Utilizing the findings, Triverus provided a set of recommendations prioritized by risk and level of importance to the business.

Results

The comprehensive set of actionable recommendations provides the client with:

• The highest priority business processes, based on high criticality and outage impact.
• The outage impact, time phased by outage duration and outage likelihood.
• Short-term workarounds.
• Steps to reduce possible outages and improve restoration and recoverability.

Additionally, the client has a repeatable approach for continued assessment and improvement of existing or new applications, including:

• Definitions and criteria for determining business risk and importance.
• A foundational inventory of current applications with associated processes and information that define risk and importance to the business.