Responsibility Assignment Matrix

abstract-technology-background

What is a Responsibility Assignment Matrix (RAM) or a RACI MatriX? A responsibility assignment matrix (RAM), also known as RACI matrix, describes the participation by various roles in completing tasks or deliverables for a project or business process. How is RAM / RACI useful? RAM / RACI is especially useful in clarifying the roles and responsibilities in cross-functional/departmental projects and processes. What does RACI stand for? RACI is derived from the four key responsibilities: Responsible, Accountable, Consulted, Informed. The RACI model is a straightforward tool used for identifying roles and responsibilities and avoiding confusion over the roles and responsibilities during … Read More

The Role of a Project Sponsor

the role of a project sponsor

More often than not, a project sponsor is thought of somebody whose responsibility is to secure project funds and participate in the victory lap after project completion. But an “engaged” project sponsor with vested business interests and involvement in the project from the project kickoff to the project closure can mean the difference between a project success or a project failure. One of the reasons why projects fall short is the lack of executive sponsorship and executive management buy-in. Some key responsibilities of a sponsor include: Defining the project; Securing an executive buy-in on the project Providing a clear direction for the project … Read More

Relationships Among Portfolios, Programs, Projects

diagram illustrating relationships between Portfolios, Programs and Projects

Portfolios A portfolio refers to a collection of projects, programs, and sub-portfolios managed as a group to achieve organizational, strategic, and business objectives. Programs Programs are a group of related projects managed in a co-ordinated way to obtain the benefits and control not available from managing them individually. Programs are grouped within a portfolio and are comprised of: Sub-Programs Projects Other operational work   Projects A project is a temporary endeavor with a definitive beginning and an end. A project is undertaken to create a unique product, service, or result. Fig. illustrates relationships between Portfolios, Programs and Projects   [message_box title=”” … Read More