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Appendix B
Corporate Risk Register
The Council’s corporate risks are those risks which could impede the achievement of our strategic objectives. The corporate risk register was last reported to Members in June 2020.
Risks are assessed based on likelihood and impact, as defined on the following page. Current risk, considering any existing controls in place to manage the risk, is assessed initially, then Mitigated risk, taking account of planned further controls, is assessed.
A notional financial evaluation of mitigated risk for each of the risks on the Corporate Risk Register is set out below.
|
Financial impact |
|
|||
Risk |
Lower |
Upper |
Mid-point |
Likeli-hood |
Weighted
|
|
£000 |
£000 |
£000 |
% |
£000
|
Major emergency |
500 |
1,500 |
1,000 |
50 |
500 |
Resurgence of current Covid-19 outbreak |
250 |
750 |
500 |
75 |
375 |
Environmental damage |
250 |
750 |
500 |
75 |
375 |
Poor partner relationships |
250 |
750 |
500 |
50 |
250 |
Financial restrictions |
250 |
750 |
500 |
75 |
375 |
IT security failure |
250 |
750 |
500 |
50 |
250 |
Loss of community engagement |
25 |
75 |
50 |
50 |
25 |
Housing pressures increasing |
125 |
375 |
250 |
50 |
125 |
Not fulfilling residential property responsibilities |
125 |
375 |
250 |
50 |
125 |
Major project failure |
250 |
750 |
500 |
25 |
125 |
Contraction in retail and leisure sectors |
250 |
750 |
500 |
95 |
475 |
Significant contract failure |
125 |
375 |
250 |
25 |
63 |
Building of incomplete communities |
125 |
375 |
250 |
50 |
125 |
Short-term Brexit impacts |
125 |
375 |
250 |
50 |
125 |
Governance failures |
250 |
750 |
500 |
25 |
125 |
Insufficient workforce capacity and skills |
25 |
75 |
50 |
25 |
12 |
Not fulfilling commercial property responsibilities |
125 |
375 |
250 |
25 |
63 |
Total Weighted Financial Impact |
|
|
|
|
£3,513 |
Risk Impact
Risk Likelihood