Risk Assessment is one of the most important steps of preparing business continuity and DR plan.
Why is this critical for a business?
A comprehensive risk assessment helps an organization understand the kind of threats it can be exposed to, the possible extent of damage and therefore the required steps for damage control.
A good Risk Analysis and Assessment helps throw insight into how each functional area of a business would be impacted in the event of a disaster and therefore, it also helps in prioritizing recovery plans based on the criticality of the functions.
Listing out disasters is a challenging task, the list will never seem to be comprehensive enough and it will need constant updating. The risk assessment process is to pre-determine the possible scenarios of disaster and then steps that the organization will take to recovery in the event of each.
