4.1 Risks to achievement of VfM programme are being managed as part of the Treasury Group's overall risk strategy. Table 2 outlines the main risks to the delivery of the VfM programme.
Table 2: Main risks to the Value for Money Programme
| Risk | Response |
| Pressure of CSR07 reductions leads to loss of talent, and failure to recruit and retain in the future appropriately skilled workforce, with a detrimental impact on Treasury Group performance. | Close consultation with staff and unions and the development of appropriate HR policies to ensure managers and staff are fully supported during the transition process. Close linkage of VfM programme to development of DSO delivery plans to ensure identification of the skilled resource needed |
| VfM Programme fails to identify and deliver activities necessary to fully achieve VfM savings. | Early identification of changes through the OGC review and GSS. Development of broader core Treasury change agenda. |
| Cost pressures affect in an unforeseen way distorting planned resource distribution | Development of a robust performance management framework to ensure strong performance against DSO outcomes. |
4.2 The risks to the delivery of VfM, and their appropriate responses, will be monitored through the VfM programme's governance structure.