Issue - meetings

Report by Hedd Vaughan-Evans, Operations Manager.

(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.

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.