Appendix 1

Levick Trust Project – risk Register
Author: Lisa MARRON
Report Type: Risks Report
Generated on: 12 February 2010 /

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Scheme Priority
Scheme Objective

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Risk no. / Description / Gross Risk - Prob / Gross Risk - Impact / Gross Risk - Score / Internal Controls / Resid Risk - Prob / Resid Risk - Impact / Resid Risk - Score / Resp Officer / Progress/update /
1 / The funding from grant has a fixed term spend profile and if the scheme does not progress to completion by the due date the grant award will be reduced/clawed back / 5 / 5 / 25 / The scheme must have a clear project plan with timelines. The designated project manager/group must track delivery to deadlines on a monthly basis at least. In addition to the new build project team there needs to be a joint team meeting with the social care element of the project. / 2 / 3 / 6 / Project manager
2 / Prior to letting contracts for the works on site the land ownership/lease arrangements have to be agreed and formalized. / 5 / 5 / 25 / The lease with the Levick Trust has to be agreed and must fit with the agreed project timeline. / 3 / 4 / 12 / As above
3 / The cost of the project may exceed the initial budgets which would lead to increased borrowing by the council / 3 / 5 / 15 / There must be regular monitoring of the budget from tender approval to finance completion stage and actions must be taken to stay within resource limits. The project manager of the construction must be aware of and track the project budget. / 2 / 3 / 6 / As above
4 / Secure planning consent. / 3 / 3 / 9 / Steering Group and Project Team to ensure effective dialogue with local community and Development Control (DC). Initial meetings with DC have already taken place and the outline scheme is considered satisfactory. / 1 / 3 / 3 / As above
5 / Secure Charity Commission and Almshouse Association approval to scheme (including widening of Levick Trust objects). / 4 / 4 / 16 / Continued engagement with both parties is highlighted as a key activity for the Steering Group and Project team (which includes Levick Trust members). / 2 / 3 / 6 / As above
6 / There is potential that rental income may not be as forecast in the business plan and demand may be low .It may therefore not meet all the servicing costs. / 3 / 3 / 9 / The budget allows for voids but once the scheme is live the rental position must be regularly tracked and monitored and corrective action taken. / 3 / 3 / 9 / As above
7 / The end result of the project is the addition of 20 new units which will be deemed as lettable for HRA purposes. The service owns lettable units within other regeneration schemes and the numbers need to be tracked to ensure that the Council will not have to potentially re establish a HRA account which will have major accounting implications. / 2 / 5 / 10 / The number of properties currently owned is kept under review with plans to reduce such assets before the introduction of the newly built apartments / 2 / 2 / 4 / As above

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