Business Impact Assessment (BIA)

Why is Business Impact Assessment (BIA) so important?
The main objective with BIA is to ensure a more effective capability development and learning throughout the organisation. BIA thus ensures a focus on the learning that has the highest priority and is most important for the business strategy to become successful.

Too often, the internal competency development is not aligned with the company’s overall business strategy. This often results in inadequate management, a blurred business focus and thus also limited strategic effect of the competency activities.

BIA thus represents a specific method for providing companies with an opportunity for goal-oriented and accurate cost management of all capability development activities while documenting the effort. In other words, this means that, in the long run, companies will be able to prioritise the capability development processes that create the biggest ROI for the business.

The challenge of today’s capability development business impact
BIA is an effect and business-oriented assessment tool within strategic capability development that ensures:

• 100% transparency and management using resources and activities for capability development
  
• Impact measurement of capability development activities on the company’s strategic goals
  
• ROI data that form the foundation for making decisions on capability development with the proper strategic perspective.

Model for completion of BIA assessment
BIA is an assessment that focuses on stages 4 and 5 in the model below for impact measurements. However, we recommend that Mannaz be involved as early as possible during impact measurements for competency development processes, i.e. already during stage 1.

Figure: Stages for impact measurement of capability development

Output of the BIA assessment:

• Exact knowledge on the costs associated with the company’s total and/or specific capability development activities
  
• Impact measurement of the company’s total and/or specific capability development activities
  
• ROI – objectives for the company’s total and/or specific capability development activities
  
• Strategic assessment of the company’s alignment of capability development and the overall business objectives
  
• Implementation of a practice for professional monitoring and impact measurement of future capability development activities.
  

For more about impact:

• See Impact Manangement Tools

Contact Mannaz
If you would like a dialogue regarding Business Impact Assessment, please contact:

Copenhagen:
Søren Bolvig, Executive Vice President, tel. +45 4517 6188.

London:
Inger Buus, Managing Director, Mannaz UK, tel. +44 (0) 207 845 9940

Brussels:
Elizabeth Lawlor, Managing Director, Mannaz Europe, tel.:+32 (0)2533 0460