Risk No.

Financial

Risk Description

Consequences of Risk

Assessment of Risk
where H=3, M=2, L=1

Risk Score

Owner

Action Plan

Target Date

Probability

Impact

F1

Underestimate the level of required project resourcing and funding required to successfully deliver the project

Inadequate budgets are identified
Inability to access quality specialist support.

Stability of the programme and project teams is undermined.

2

3

6

FD

Report Risk within the monthly Highlight Report.

Monitor Budget via trigger points in Highlight Report Check previous project budgets or evaluate costs / resourcing of similar projects in other authorities

F2

The costs of project implementation outweighs the benefits.

Best and final bid fails affordability check and project is deemed uneconomic.

1

3

3

FD

The Business Case and requirements will be reviewed.
Undertake soft market testing to sound out market interest

F3

No bids received which meet the Affordability Model

Failed procurement if not supported by market interest

3

3

9

PD

Soft market testing pre-advertisement. Review other LAs engaged in partnerships

F4

Uncertainty over how to apportion financial savings that arise from process re-engineering.

Problems encountered in achieving process efficiencies and lack of ability to manage the required level and commitment across the organisations. De-stabilise the relationship and delivery plans

2

2

4

FD

Ensure allocation is clear in benefits realisation plan and contract documentation