Agenda item

Ian Williams, Portfolio Development Manager (Swansea Bay City Region) presented an updated City Deal Portfolio Business Case which was required for submission to Welsh and UK Governments.

He detailed the background and highlighted the significant changes which included:

•       Updated information on the strategic alignment of the portfolio with UK, Wales and Regional policy / strategy and current public sector initiatives with the inclusion of the South West Wales Economic Delivery Plan, the Regional Economic Framework and the Levelling Up / Shared Prosperity Fund initiatives

•       Case for Change section updated with the regional economic policy priorities and evidence base in the SWW Economic Delivery Plan. Current trends, needs and opportunities identified 

•       Revised business case development and approval status with all programmes and projects now having received regional and government approval and the SBCD Portfolio is now in full delivery

•       Revised economic appraisal information for portfolio, programmes and projects

•       Updated funding and investment information with the overall SBCD portfolio forecasted investment now at £1.241bn

•       Updated Monitoring and Evaluation information for the portfolio including an updated Monitoring and Evaluation plan and current information for risks, issues, benefits and financial monitoring

•       Proposed independent assurance arrangements for the portfolio and arrangements for the development and approval of Full Business Cases

•       Updated Communications and Marketing Plan and schedule

•       Current Portfolio delivery roadmap for all programmes and projects

The Committee noted the draft consultation version of the Portfolio Business Case was circulated to all Senior Responsible Owners (SROs) and programme / project leads on 14 January for comment and feedback. The feedback received has been considered and incorporated into the business case where appropriate. The draft business case and appendices were circulated to members of Programme Board, Joint Committee, and key officers in Welsh and UK Governments on 18 February. Briefing sessions on the content of the business case were also offered to stakeholders.

The Business Case was considered and agreed at Programme (Portfolio) Board on 1 March.

The Business Case incorporates stakeholder feedback and, subject to approval by Joint Committee, will be the final version to be sent to the Welsh and UK Governments.

Resolved that the Joint Committee approves the SBCD Portfolio Business Case attached at Appendix A.