Agenda item

To review the Corporate Risk Register, the risk appetite approach and a deep dive into a specific risk.

The Committee received the report which provided the corporate risk register for review and a deep dive into a specific risk.

The Committee agreed to:

A To endorse the Corporate Risk Register, Dashboard and Heatmap for November 2024.

B To undertake a deep dive into Failure to deliver work programmes within budget and planned timeframes and Inflation risks.

The Committee received the report which provided the corporate risk register for review and a deep dive into a specific risk.

The following points were raised during the discussion:-

• In response to a question about whether the risks were aligned to political situations; officers advised they would need to be made aware of the situations by officers at the relevant councils.

• In response to a question about bus reform risk officers advised that the decision had not yet been approved.

• In response to a question about how management took into account the content around decisions the officers advised that there were three levels where risk was considered. Each project had a risk register, then each service had a risk register and then finally the corporate risk register. Items that were put onto the corporate risk register were items that had been flagged to be escalated; once they were on the corporate risk register the risk would be tweaked to show the significance in relation to the corporate strategy.

Risk Deep Dive –

In response to a question about how the committee could get assurance about projects being signed off by the Board being delivered the officers advised that they worked towards the controls and mitigations in place for each project and these were highlighted as part of the reporting process. 

Larger projects were more complex as there would be many officers involved. With major capital projects, there would be a named project officers who would work with the Project Management team to consider the risks which would be overseen by the Transport Board, these then reported updates to the Department for Transport. Updates on key projects were also taken through the Transport and Infrastructure Committee.

Significant changes would be taken through the Single Assurance Framework process which would then be taken through the investment panel and then the investment committee.

In response to a comment that there was still slippage, officers advised that there was an element built into the MTFP for that.

The Chair requested that a performance report be brought alongside a future financial report to help shed some light on how assurance could be brought on the slippage and mechanism in place to mitigate this.

Risk Deep Dive – Inflation

In response to a comment that the risk was that the authority had a non-inflation linked funding devolution settlement and the impact was on the ability to deliver but this may need some clarifying the Committee were advised that the CPCA was lobbying government to receive an integrated settlement going forwards this would provided funding in blocks which would create more flexibility and help to manage the resources – the authority was hoping for multi-year funding streams.

The CPCA was a commissioning authority so for a vast majority of capital projects grants were provided.

The Committee agreed to:

A To endorse the Corporate Risk Register, Dashboard and Heatmap for November 2024.

B To undertake a deep dive into Failure to deliver work programmes within budget and planned timeframes and Inflation risks.