Report by Hedd
Vaughan-Evans, Operations Manager.
Additional documents:
Decision:
(a)
To adopt the Risk Management Framework attached to the report and as outlined
in Appendix 1, and ask the Programme Office to adapt the format in accordance
with the points noted in the discussion, and develop a Risk Management Strategy
in accordance with the principles in the framework as part of the final package
for the North Wales Growth Deal.
(b)
To note that a report reviewing the content of the risk register and in
accordance with the new framework will be presented to the next Board meeting.
Minutes:
The report was
submitted by Hedd Vaughan-Evans - Operations Manager.
RESOLVED
(a) To
adopt the Risk Management Framework attached to the report and as outlined in
Appendix 1, and ask the Programme Office to adapt the format in accordance with
the points noted in the discussion and develop a Risk Management Strategy in
accordance with the principles in the framework as part of the final package
for the North Wales Growth Deal.
(b) To
note that a report reviewing the content of the risk register in accordance
with the new framework will be submitted to the next meeting of the Board.
REASONS FOR THE DECISION
The Programme
Office needed to set effective risk management arrangements in order to ensure
the successful delivery of the North Wales Growth Deal.
DISCUSSION
The report was
submitted, which provided an update to the North Wales Economic Ambition Board
on risk management arrangements in order to deliver the North Wales Growth
Deal.
Details were
provided about the background and relevant considerations and the consultations
held.
It was explained
that this was a report on the Management Framework, and not on the risks
themselves, and that the risks would be discussed at the next meeting. It was
noted that the two biggest risks were the capacity and support of the private
sector, due to the effects of Covid-19.
During the
discussion, it was noted that the Risk Management Framework should be praised,
but a suggestion was made that the following should be added to the template:-
·
Risk trend column (better, worse or static);
·
A column noting how quickly unmitigated risks would
have an impact (immediately, in the short-term or medium-term).
·
A second traffic lights column showing the risk level
as a result of implementing steps to improve the situation.
In response, it
was noted that it was intended to work on an amended template which would
include scores and trends of unmitigated risks, while also incorporating the
above-mentioned suggestions.
It was noted that
Appendix 2 did not refer to a change of direction by the Government. In
response, it was noted that it was the framework alone that was under
consideration at this meeting, and that the risk register would be discussed at
the next meeting.
The framework,
with the observations noted, was agreed to, accepting that a report on the risk
position would be submitted at the next meeting.