Are You Building Your Business on The RACI Matrix?
The agility of any organization depends on the accountability of the team members. Departments need to perform according to their objectives and guidelines to make all the cogs of the machine work together. The RACI matrix is an organizational chart that assists with the successful implementation of projects and tracks goals within the matrix. It will assist you in knowing who is to be held responsible? Who you need to be confer with? And, who to keep up to date during the project to ensure that it is successful? What is a RACI matrix? How does it work? And, when can I use it? All of these are valuable questions in the quest to discover the simplest and most effective approach to project management.
Studies have proven that the success of any project is dependent on the participants’ knowledge of how they form it bigger. It is human nature to have the desire to be in aspects of decision-making and to have opinions valued. The RACI matrix determines where these inputs are most necessary in the larger plan.
It is a tool to ensure compliance and deliverables with the use of documentation, processes and accountability. It then links to higher performance and clearly defined responsibilities. You can get agreement from all parties involved ensuring that projects are kept on track.
The matrix is scalable and can be implemented at every level of an organization. Moreover, the particular axis making up the matrix should be adaptable and flexible to include or exclude persons in the department or project. There is a lot of information available on the pros and cons of implementing a RACI matrix. At the end of the day it is an effective tool in the implementation of accountability structures.
How can you utilize a RACI matrix in your business?
It assists small to large projects in identifying the responsible, accountable, consulted, and informed (RACI) parties of a project. Simply, it determines the specific roles, responsibilities and cross-functioning of people and departments within a specific project. The definition encompasses the basic principles and is easy to remember for various levels of employees.
The RACI matrix is also known as the “responsibility assignment matrix” or the “linear responsibility chart”. Delegation is the key to a successful RACI matrix. Moreover, the matrix templates can introduce this delegation. These templates can be set according to your specific needs within an organization.
For example: Firm X implements a simple RACI matrix template to develop a software. The people who are responsible for the coding and completion of the software identify and form part of the core matrix. However, the team at Firm X would have to consult with Team Y from another department or company. Moreover, the team also needs to inform the Head of Department of the progress made within the matrix. This would be a simple, linear matrix which would identify the persons involved in the project. You can source more complex templates from online consulting platforms and customize them to support your team and desired outcomes.
How to Create A RACI Matrix for Your Business
There are 6 simple steps to create the matrix for your business:
- Identify all the tasks necessary to complete a project and list them.
- Identify all the people involved in the progress and completion of the project and align them with the identified task.
- Assign each person with the RACI descriptors (responsible, accountable, consulted and informed).
- To ensure the success of the project, every task should have one person responsible for it.
- However, no task should have more than one person as accountable.
- Share the matrix with everyone involved and ensure there is concurrence among the team.
Pros and Cons
As with most things in life, the RACI Matrix also holds both advantages as well as disadvantages:
The RACI Matrix Template
The RACI matrix has a vertical axis of tasks or deliverables, and a horizontal axis of people involved in the project. It can be simple or complex based on the tasks at hand. But, ultimately it is about who is responsible for the tasks and activity.
Want More Information About the RACI Matrix For Your Business?
At Consultport Academy you will learn the basics of Business and Corporate Strategy. It will equip you to understand business strategies, as well as how to successfully implement them. Learn more about the RACI Matrix and other frameworks which could add value to your business.