Your role on the Investment Panel
Your primary role on the Investment Panel is to review proposals that are going for consideration at Investment Board, to do this you will be required at each Investment Panel meeting to:
- identify key lines of enquiry for the Investment Board to focus on.
- validate and challenge proposal content to ensure that the evidence base stacks up.
- validate and challenge the external review that has been undertaken for each proposal.
- validate and challenge the quality and robustness of the proposal content.
- drive standards of development by ensuring a consistent approach to challenging HMTs 5 case elements within each and every Business Cases.
- provide an examination of the proposals Assurance Observation report produced during development that highlights Case Maturity, compliance with guidelines and standards for business case development set out by the Strategic Hub and the Risk and Investment Appraisal that has been undertaken to see if any issues have been identified and how they have been responded to.
- provide an examination of the key risks and investment considerations detailed within each Business Case.
Each WMCA Investment Panel member is there to represent an element of HMTs five case model, they are therefore recommended to familiarise themselves with HMTs ‘Blue Book’ which provides guidance on developing business cases to a Green Book standard, the ‘blue Book’ contains useful guidance on each of the five cases and the criteria and standards that are expected to be delivered for each of these cases. The Strategic Hub can provide copies of the ‘Blue Book’.
In addition each WMCA member is expected to be a champion for the WMCA specific requirements that the Single Assurance Framework seeks to be delivered in business case development, consideration and approval. This involves the following:
- Delivering the Golden Thread - ensuring that each business case will contribute towards delivering the strategic objectives of the WMCA.
- Delivering Inclusive Growth - responding to each of the 4 Inclusive Growth tests (locking in wealth; universal design; sharing power; future generations).
- Delivering the WMCAs Major Policy Framework - ensuring proposals address creating a healthier, happier, better connected, more prosperous and green West Midlands.
The Strategic Hub can provide guidance and training on each of the aspects above.