RACI Chart Template

RACI Chart Template

RACI Chart Template is a tool that is used to assign roles and responsibilities in a project or activity. It clearly maps out which task is being done by whom, who is a reviewer, and who is accountable for a task. Ultimately, this chart eliminates any confusion and helps in identifying the person accountable for an activity.

RACI stands for Responsible, Accountable, Consulted, Informed. Let’s understand these four responsibilities from below brief description –

#1 – Responsible

It is the person who actually works on and completes the task. There can be one or more persons responsible for one task depending on the difficulty level and time consumption.

#2 – Accountable

It is the person who is also the reviewer and assigns the various tasks to the responsible person. The responsible person can also be held accountable for some tasks. However, SOXSOXThe Sarbanes-Oxley Act (Sox) of 2002 was enacted by the US Federal Law for increased corporate governance, strengthening the financial and capital markets at its core and boost the confidence of general users of financial reporting information and protect investors from scandals like that of Enron, WorldCom, and Tyco.read more review now a day makes is compulsory to have another person review the task completed by one person. It is always a good idea to have just one person accountable for one task to avoid any ambiguity.

#3 – Consulted

These people are being consulted regarding feedback or confirmation that the project is going fine; output quality is as desired; if any, bugs or loopholes in the product or project. The parties for consulting can be internal or external, depending on the nature of the task open for consultation.

#4 – Informed

These are the parties who are being informed about the progress, bottlenecks, or the completion of the project. Most of the time, Informed people are final recipients or senior leadership who just want to be updated about the progress, changes, and any other significant amendment.

Let’s understand the RACI chart template by using the below template in which an accounting manager has delegated various task within his team and can take the follow up with responsible and accountable people –

RACI-Chart-Template

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Source: RACI Chart Template (wallstreetmojo.com)

About the RACI Chart Template

How to Use the Template?

  • It is a simple, concise, and comprehensive template that is explained here. The person uses the RACI chart to make a change in the attached template and update the various functions and names of the people depending on team size. Also, they can include and exclude certain members from the team depending on the information and how critical it is for the organization. For example, if there is an update regarding merger and acquisition and it is still in the initial stage, and then it should not be shared with everyone in the organization, and informed people can only be the senior leadership and involved associates. The same way the accountability must be distributed in such a way that one person is not burdened with many responsibilities and task completion becomes difficult. Also, the same person must not be accountable to departments with conflicting interests to avoid SOX and other compliance issues.
  • The main aim of this chart is to understand which team and person are doing what and reach out to them in the case when information is needed from them. Also, because nowadays, in a digital world, all the departments are connected, and there is the reliability of one department at another department’s task completion. For example, in an accounting environment, the general ledger – GL team can only start working after the accounts payable and receivable team has completed their task. In that way, the RACI chart provides a quick overview of the distribution of the task and responsiveness of one department to another and provides better integration and task completion.

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This article has been a guide to the RACI Chart Template. Here we provide you with a free downloadable RACI chart template, which is used to assign roles and responsibilities in a project or activity. Also, you can download and use this template in Google Sheets, ODS, or CSV format.

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