Enhancing Business Impact Analysis and Risk Assessment Applying a Risk-Aware Business Process Modeling and Simulation Methodology

Driven by the steadily growing number of natural disasters, the threat of terrorist and other criminal attacks as well as changed legislation and regulations, companies are increasingly forced to prepare against threats that endanger the survivability of crucial business activities. As a consequence, management has to pay more attention to business continuity issues including serious management commitment and more appropriate funding. Business impact analysis and risk assessment concepts enable adequate business continuity planning as they deliver essential information about the impact of resources' disruption on business. In this paper we present how these concepts can be enhanced through the application of the ROPE (Risk-Oriented Process Evaluation) methodology enabling risk-aware business process management and simulation. Moreover, we present essential extensions of the ROPE simulation capabilities leading to a more efficient and effective business continuity planning.