A critical step in building your negotiation team is completing a RASCI chart (Responsible, Accountable, Supported, Consulted, and Informed). A RASCI chart is beneficial because it:

  • Allows stakeholders to clearly understand expectations.
  • Reduces redundancy in tasks.
  • Enables clear communication.
  • Reduces time within approval processes.
  • Allows stakeholders to focus more on value-add activities.

RASCI diagrams are an effective way to describe how accountability and responsibility for particular roles, projects, and project tasks are distributed among stakeholders involved in vendor management – and the first step of that is negotiating your contract. A RASCI diagram is a useful visualization that identifies redundancies and ensures that every role, project, or task has an accountable party.

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Lay the foundation for a vendor management process that is built to last.

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