Risk Matrix

Risk Ref	Date	Risk	Consequences	Mitigation	Current Risk Score	Target Score	Service Unit Manager/ Responsible Officer	Action Plan
1	Nov 2023	Delay in establishing the MCA will also delay allocation of BHF.	The delivery timescales are further constrained and projects may not be able to reach the delivery deadline.	The draft Parliamentary Order to establish MCA has now been tabled with parliament and there’s an expectation that the MCA will be established early 2024. Constituent authorities (NYC & CoYC) are not expected to oppose establishing MCA, and are currently backing current proposals for Devolution. If delays are anticipated, potential exists for discussion between YNY MCA and DLUCH to start programme in advance of issue of Parliamentary Order.	C4	B2	Head of Strategy & Director of Transition	No issues anticipated but the BHF team will continue to monitor progress of the establishment MCA. If any delays, discussions will be had with DLUHC about releasing the funds earlier.
2	Nov 2023	DLUHC funding not forthcoming or offer of reduced level of funding.	Inability to fund any projects, or a reduced number of projects supported.	Ongoing engagement with DLUHC. DLUHC indicate provision of funding of £12.7m to support BHF programme in FY 2023/24 & 204/25. No indication from DLUHC that the funding will be reduced and it was confirmed in the original Devolution deal.	A4	A2	Head of Strategy & Director of Transition	Informal offer has been received. No indication that this risk is likely. But BHF team will continue to monitor it with DLUHC.
3	Nov 2023	Insufficient resources within YNY MCA to manage delivery of BHF programme.	Inability to successfully deliver the programme of BHF.	BHF Project Team established and managing BHF programme development will continue into delivery of programme. Key roles and responsibilities identified for effective delivery of BHF programme.	B4	B2	Head of Strategy & Director of Transition	Staffing and capacity levels will be kept under review, and recruitment of additional management and admin support resource to be agreed with YNY MCA.
4	Nov 2023	Delay in start of delivery of BHF programme.	Jeopardises the deliverability or projects, as the timelines are already tight.	Regular meetings of BHF team will ensure that expected progress is being made and issues are being escalated where appropriate. This will ensure that any manageable delays in start of programme are kept to a minimum.	D4	B2	Head of Strategy & Director of Transition	Ongoing conversations with DLUHC to mitigate this risk.
5	Nov 2023	Risk of not achieving BHF programme financial targets set by DLUHC	Potential risk that some investment will be claw-backed by DLUCH.	Ongoing achievement of DLUCH financial targets will be mitigated through effective project/contract management. The MoU between DLUHC and YNYMCA identifies a spend profile of circa £6.35m per year  (FY 2023/24 & 24/25). Funding agreements between YNY MCA and projects will identify financial spend targets to achieve this target. Current list of projects seeking approval from the JC are below the financial allocation.	D5	C3	Head of Strategy & Director of Transition	Seeking approval from the JC to reopen a call for projects to fill the current financial gap.
6	Nov 2023	Risk of not achieving BHF programme output targets set by DLUHC	Potential risk that some investment will be claw-backed by DLUCH.	Ongoing achievement of DLUCH financial targets will be mitigated through effective project/contract management. The MoU between DLUHC and YNYMCA identifies a target of between 827 to 1,058 new homes to built. Funding agreements between YNY MCA and projects will identify output targets to achieve this target. Current shortlisted projects do not deliver the DLUHC target.	D5	C3	Head of Strategy & Director of Transition	Seeking approval from the JC to reopen a call for projects to fill the current financial gap.
7	Nov 2023	Tight timescales for delivery of BHF programme	Any minor slippages could result in projects being undeliverable within the timeframes.	BHF Project Team established and managing BHF programme development will continue into delivery of programme. Regular meetings of BHF team will ensure that adequate resources are in place to ensure expected progress is being made and the programme is effectively managed.  Funding agreements between YNY MCA and projects will identify clear milestones for delivery.	C4	C3	Head of Strategy & Director of Transition	Ongoing conversations with DLUHC about this challenge, alongside close collaboration with applicants to best mitigate this.
8	Nov 2023	Delay in contracting with delivery partners	Delay in the start of delivery.	Issue of funding contracts will be resolved by outsourcing. Draft funding agreements to be issued January 2024 to ensure all projects are aware of terms & conditions and can meet the delivery timescales. Execution of funding agreements with grant recipients to be undertaken in February/March 2024.	C3	B2	Head of Strategy & Director of Transition	Draft contracting has now begun.
9	Nov 2023	Market conditions impacting of delivery of BHF programme	Inability for projects to deliver within the timescales, which could result in clawback of funding.	BHF programme is susceptible to impact from market conditions outside the control of YNY MCA. BHF Project Team will monitor impact on delivery of programme and  ensure expected progress is being made and issues are being escalated where appropriate.	C3	C3	Head of Strategy & Director of Transition	This risk is outside of our control, mitigations not possible, other than ongoing reviewing.
10	Nov 2023	Project risks associated with individual projects in the BHF programme	Depending on the risk, there are multiple potential consequences, but primarily these are linked to an inability to deliver in sufficient time.	Risks associated with each individual project (e.g. planning consents, etc) in the BHF programme will be mitigated through funding conditions and effective contract management. Funding agreements between YNY MCA and projects will identify specific project risks and mitigation for managing risk.	D3	C3	Head of Strategy & Director of Transition	BHF Programme Team will monitor this closely with applicants.
11	Nov 2023	Completion of activity and spend within programme deadline	Risk that DLUHC clawback investment.	Contracting with delivery partners via funding agreements will set out payment stages linked to progress with key milestones for delivery of outputs/outcomes. Effective programme and project monitoring of delivery partners will be required by YNY MCA to report into DLUCH. This will flag any  need to take corrective action as necessary for achievement of delivery milestones.	C4	C3	Head of Strategy & Director of Transition	Clear milestones for delivery to be established within the funding agreement.
12	Nov 2023	End of Programme Closedown Liabilities are unclear.	Unclear what the impact would be if MoU obligations (i.e. outputs, financial profile) are not met by the end of the programme.	More details are required from DLUCH as to how this will work (awaiting receipt of formal MoU). Arrangements for year-end payments to be confirmed by DLUCH. Ongoing monitoring of housing outputs associated with BHF payments will be required.	B3	B3	Head of Strategy & Director of Transition

Glossary of Terms

Risk                                        An event which may prevent the Council achieving its objectives

Consequences                   The outcome if the risk materialised

Mitigation                               The processes and procedures that are in place to reduce the risk

Current Risk Score              The likelihood and impact score with the current mitigation measures in place

Corporate Objectives           An assessment of the Corporate Objectives that are affected by the risk identified.

Target Risk Score                The likelihood and impact score that the Council is aiming to achieve

Service Unit Manager         The Service Unit or Officer responsible for managing the risk

Action Plan                           The proposed actions to be implemented in order to reduce the risk to the target score

Risk Scoring

Impact	5
	4
	3
	2
	1
		A	B	C	D	E
		Likelihood

Likelihood:                               Impact

A = Very Low                           1 = Low

B = Not Likely                          2 = Minor

C = Likely                                 3 = Medium

D = Very Likely                        4 = Major

E = Almost Certain                  5 = Disaster