A business impact analysis (BIA) is the BEST tool for calculating:
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A. B. C. D.B.
A business impact analysis (BIA) is the best tool for calculating the priority of restoration for applications.
It is not used to determine total cost of ownership, annualized loss expectancy (ALE) or residual risk to the organization.
A business impact analysis (BIA) is a risk management technique used to identify and evaluate the potential impact of disruptions to critical business operations. The goal of a BIA is to determine the impact of an interruption to critical business functions, the resources required to recover from such an event, and the time required to return to normal operations.
Out of the given options, the BEST tool for calculating the priority of restoration is the Business Impact Analysis (BIA). This is because a BIA provides a detailed understanding of the criticality and interdependencies of business processes and identifies the recovery time objectives (RTOs) and recovery point objectives (RPOs) for each process.
The priority of restoration is a measure of the criticality of a business process, and is determined by the business impact analysis. This analysis provides an understanding of the interdependencies of different business processes, the resources required to recover from a disruption, and the time required to return to normal operations. By analyzing the results of a BIA, the organization can determine which processes are critical and must be restored first.
Total cost of ownership (TCO) is a measure of the total cost of owning and operating an asset over its lifetime, and is typically used in procurement and asset management. A BIA may provide some insight into the costs associated with disruptions to critical business processes, but it is not designed to calculate the total cost of ownership.
Annualized Loss Expectancy (ALE) is a measure of the expected annual loss due to a specific risk, and is calculated by multiplying the probability of the risk occurring by the expected loss if the risk does occur. A BIA may provide some input into the calculation of ALE by identifying the potential losses associated with disruptions to critical business processes, but it is not designed to calculate ALE directly.
Residual risk is the level of risk that remains after controls have been implemented to mitigate the risk. A BIA may identify the risks associated with disruptions to critical business processes, but it is not designed to calculate residual risk directly. Rather, residual risk is typically calculated as part of a broader risk management process that considers all relevant risks and the effectiveness of existing controls.