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.