Systems and methods for business impact analysis and disaster recovery, wherein the system comprises of an input interface; business function parameters; limiting parameters associated to the said business function parameters; a tracking sub-system; an impact calculator; an operation site; and a disaster recovery site; wherein the said limiting parameters defines the limits of the said business function parameters; and wherein the said business function parameters and the said limiting parameters are entered into the system through the said input interface; and wherein the said entered business function parameters are independently or simultaneously tracked by a tracking sub-system; and wherein on occurrence of a change in business function parameters that cross the limits defined by the said limiting parameters is tracked by the said tracking sub-system and the said impact calculator calculates the impact of the change in the said business function parameters simultaneously in real time.