The purpose of a Business Impact Analysis (BIA) is to determine: Choose the correct answer? The cost to repair a failed system The extent of a disaster's damage Critical business processes that must be maintained How often an incident will occur
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The purpose of a Business Impact Analysis (BIA) is to determine:
Choose the correct answer?
The cost to repair a failed system
The extent of a disaster's damage
Critical business processes that must be maintained
How often an incident will occur
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Solved in 2 steps
- How would you go about calculating the likelihood of a "super-event" or a "unique event?" What variables would you take into account ?Sun TV sells TV sets. It does not sell smart TVs so customers do not come to Sun TV if they want to purchase smart TVs. Sun TV wants to start selling smart TVs and will only sell smart TVs to customers to whom they advertise. Managers use customer information (income level, previous purchase history) to decide which customers they should target. The team needs to decide how sure it must be in predicting customer interest in a smart TV. If it is too cautious, it will choose a very high cutoff probability and only market to customers who it believes are very likely to be in the market for a smart TV. This may cause them to miss out on many customers. If they are too aggressive and choose a low cutoff probability, they may identify more individuals interested in buying smart TVs but also end up wasting marketing dollars on customers who are not interested in purchasing smart TVs. To choose a cutoff probability, the team develops the confusion matrices below for two cutoff probabilities on…Consider the below scenario: Caribbean Energy (CE) has recently taken over a fuel supply plant which is in close proximity to one of its competitors. The collection point for both fuel companies is located at the same seaport. The general manager of CE intends to hire a consultant to train CE’s employees regarding the new procedures for affixing the fuel lines at the collection point to the high-capacity storage tanks. The Safety Officer is debating whether the competitor should be invited to attend, given that they use the same seaport, as well as, mandating that all non-technical staff be in attendance at the training. The General Manager (GM) is mindful of the high cost of hiring the consultant and sourcing the equipment to train CE’s employees and is therefore hesitant to invite his competitors. The GM is also aware that there have been no accidents at the port since operations started 10 years ago and might not invite the competitors to participate in the training. The GM…
- Consider the below scenario: Caribbean Energy (CE) has recently taken over a fuel supply plant which is in close proximity to one of its competitors. The collection point for both fuel companies is located at the same seaport. The general manager of CE intends to hire a consultant to train CE’s employees regarding the new procedures for affixing the fuel lines at the collection point to the high-capacity storage tanks. The Safety Officer is debating whether the competitor should be invited to attend, given that they use the same seaport, as well as, mandating that all non technical staff be in attendance at the training. The General Manager (GM) is mindful of the high cost of hiring the consultant and sourcing the equipment to train CE’s employees and is therefore hesitant to invite his competitors. The GM is also aware that there have been no accidents at the port since operations started 10 years ago and might not invite the competitors to participate in the training. The GM…Consider the below scenario: Caribbean Energy (CE) has recently taken over a fuel supply plant which is in close proximity to one of its competitors. The collection point for both fuel companies is located at the same seaport. The general manager of CE intends to hire a consultant to train CE’s employees regarding the new procedures for affixing the fuel lines at the collection point to the high-capacity storage tanks. The Safety Officer is debating whether the competitor should be invited to attend, given that they use the same seaport, as well as, mandating that all non technical staff be in attendance at the training. The General Manager (GM) is mindful of the high cost of hiring the consultant and sourcing the equipment to train CE’s employees and is therefore hesitant to invite his competitors. The GM is also aware that there have been no accidents at the port since operations started 10 years ago and might not invite the competitors to participate in the training. The GM…An entrepreneur has embarked on a project to use human hair in place of animal furs in a clothing line. The human hair is to be woven into cotton fabrics, to make a hybrid fabric, that can be used as a thermal insulating fabric (i.e., it keeps persons warm). To increase the probability of sales the hybrid fabric must be dyed in various colors. Provide advice to the entrepreneur on what approaches should/could be taken to dye the new hybrid fabric. In your advice discuss the requirements of the dyes to be used, why hair dyes would not be a good option and how the dye(s) you suggest would work in the application based on the structure/properties of the fabric.
- Which one of the following types of property is covered under the ISO Flood Coverage Endorsement? Boathouses over open water Business personal property in a basement Property in the open unless scheduled Bulkheads and pilingsA shoe store manager received a claim letter from a disturbed customer that the shoes they had ordered were delivered in an unacceptable state. He needs to send a response to inform the sender about the company's decision. The manager doesn’t have to evaluate the situation nor review their policies before responding. He must focus on the solution and place the blame on the key person who is responsible for the act. Finally, he should let the customer know how the situation will be resolved. How many guideline/guidelines is/are not proper for responding when a third party is at fault? * A.One guideline is not proper B.Two guidelines are not proper C.Three guidelines are not proper D.Four guidelines are not proper E.All the guidelines are not properA business impact analysis (BIA) is a study used to identify the impact that can result from disruptions in the business. It focuses on the failure of one or more critical functions. Critical business functions (CBFs) include those considered vital to an organization. Answer the following question:
- Research a current event and/or recent case study that illustrates a minimum of one category or criteria used for a sustainability assessment (i.e. newspaper article or other publication dated within the past 60 days, must be available publically online). The research selected must clearly explain the goals and impact on performance the category or criteria specifically had on people, planet, and/or profit.Consider the below scenario: Caribbean Energy (CE) has recently taken over a fuel supply plant which is in close proximity to one of its competitors. The collection point for both fuel companies is located at the same seaport. The general manager of CE intends to hire a consultant to train CE’s employees regarding the new procedures for affixing the fuel lines at the collection point to the high-capacity storage tanks and is debating whether the competitor should be invited to attend given that they use the same seaport. The general manager (GM) is mindful of the high cost of hiring the consultant and sourcing the equipment to train CE’s employees and is therefore hesitant to invite his competitors. The manager is also aware that there have been no accidents at the port since operations started 10 years ago and might not invite the competitors to participate in the training. The GM decides, based on the high price for the consultant (facilitation fee, air travel, accommodation) and the…DuLarge Marine manufactures diesel engines for shrimp trawlers and other small commercial boats. One of their automated machines has caused several problems. Over the past 30 weeks, the machine has broken down as indicated below. Each time the machine breaks down, the firm loses an average of $3,000 in time and repair expenses. If preventive maintenance were implemented, it is estimated that an average of only one breakdown per week would occur. The cost of preventive maintenance is $1,000 per week. Number of breakdowns per week 0 1 2 3 4 Frequency (Number of weeks that breakdowns occurred) 8 3 5 9 5 What is the weekly total maintenance cost of this program? Given the following data, find the expected breakdown cost. The cost per breakdown is $200. Number of breakdowns per week 0 1 2 3 4 Weekly frequency 5 12 10 18 5 13) Great Southern Consultants Group's computer system has been down several times over the…