Business operations are occurring in an increasing range and number of conflict contexts. This chapter considers the challenges posed to companies in conflict-affected settings (CASs) and how conflict analysis can enhance human rights impact assessment (HRIA). Conducting HRIA in CASs requires understanding the nature and type of conflict, why this matters for human rights and the role for more responsive analysis. The chapter considers four broad categories of contexts in which conflict-sensitive methodologies are required: (1) armed conflict; (2) armed violence; (3) post-conflict; and (4) social unrest. It explores the challenges for businesses in these contexts, with particular attention to engaging stakeholders and acting upon findings. Conflicts and patterns of violence will continue to evolve, closely associated with global challenges such as climate change and humanitarian crises. Therefore, the chapter concludes with questions about what the changing nature of conflict means for business, to serve as a basis for further research and dialogue.