What is Impact Analysis?

Change in a business can be a positive event, but when that change is unwelcome, the impact it can have throughout a company can greatly disrupt business – and in some cases have lasting effects that are almost impossible to correct after too much time has passed.

Gathering Information for Impact Analysis

The root of impact analysis lies in making a detailed study of our clients’ business activities, dependencies and current infrastructure. The data we collect in this stage helps paint a clear, detailed picture of the products and services that are the company’s lifeblood. In an effort to acquire as much information as we can, our consultants work to gather quantitative and well as qualitative data.

It’s important to remember that impact analysis inspects different pieces of a company’s makeup. This includes abstract business functions, and how they can be matched to process and systems.

Services and processes also receive impact analysis. All of these areas comprise the whole of a company, and should one be impacted, it’s necessary to know how the other departments and infrastructure will be affected, and what plans are in place to deal with any fallout.

Using this information, our experts can then determine the impact an outside force could have on these factors – and the best way to anticipate this event. T&H also provides plans for which steps to take should there be an impact event that is completely unexpected.

Factors that Affect an Impact Analysis

Conducting an impact analysis also includes considering the financial fallout should they occur. This includes factors such as:

  • Lost profit resulting from decreased sales
  • Sales cycle disruption that delays income
  • Costs that include overtime, outsourcing certain business processes, costs for expediting.
  • Regulatory fines and penalties
  • Delaying or canceling new business projects
  • Customer dissatisfaction and reputation damage

Another important factor in impact analysis is the duration of the impact. In some cases, the damage can have lasting effects. Other times, physical damage that requires repair can result in displacing employees.

As with other business occurrences, timing is another variable that takes a crucial role in the creation of impact analysis. An event that occurs when a company is ramping up for its busy season versus an impact that occurs in a slow period differs greatly.

The information that our team gathers is bound into a scope of work that we share with our client. Produced with a great amount of detail, research, and data analysis, our team reviews this information and discusses next steps, which include how to best implement the suggestions from T&H. In some cases we would conduct a follow up gap analysis or feasibility study.

Experience has taught us that this scope of work has to be scaled to fit the client and their industry. T&H’s main audiences include the healthcare industry, housing, intelligence, security and DoD, and a variety of special programs.

When we work with clients that come from these different categories, the impact analysis we conduct is suited to their needs and business environment. Whatever industry your business is in, T&H’s impact analysis services can help. Call us today at 443.369.0285 or contact us online for more information.