RACI stands for Responsible Accountable Consulted Informed. As the below RACI Matrix chart example illustrates, the RACI matrix is a responsibility assignment matrix (RAM), designed to assign tasks, activities, responsibilities, accountability, decision making, support to team members of a process/project, and clarify expectations on the level of their participation. In the below Matrix, the senior analyst is responsible for completing the work in the econometric model. The SVP finance is accountable for that task-they assign it to the senior analyst, and review the work. At the same time, the team will consult the SEO lead for input before and feedback after the task, and so on. You can use EdrawMax or EdrawMax Online to create a RACI Matrix chart for your company.