In developing an all hazards preparedness plan, potential hazards should be identified, vulnerabilities assessed, and potential impacts analyzed. The risk assessment identifies threats or hazards and opportunities for hazard prevention, deterrence, and risk mitigation. It should also identify scenarios to consider for emergency planning. The business impact analysis (BIA) identifies time sensitive or critical processes and the financial and operational impacts resulting from disruption of those business processes. The BIA also gathers information about resources requirements to support the time sensitive or critical business processes.
This information is useful in making informed decisions regarding investments to offset risks and avoid business disruptions.