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In business and project management, a responsibility assignment matrix [1] (RAM), also known as RACI matrix [2] (/ ˈ r eɪ s i /; responsible, accountable, consulted, and informed) [3] [4] or linear responsibility chart [5] (LRC), is a model that describes the participation by various roles in completing tasks or deliverables [4] for a project or business process.
In leadership roles, [2] accountability is the acknowledgment of and assumption of responsibility for actions, products, decisions, and policies such as administration, governance, and implementation, including the obligation to report, justify, and be answerable for resulting consequences.
The board's primary relationship is with the organization's 'ownership'. As a result, governance is a downward extension of ownership rather than an upward extension of management. In this space, the board, as a single entity, assumes a governance position that is the link between ownership and the operational organization.
Project governance is the management framework within which project decisions are made. Project governance is a critical element of any project since the accountabilities and responsibilities associated with an organization's business as usual activities are laid down in its organizational governance arrangements; seldom does an equivalent framework exist to govern the development of its ...
An anonymous limited liability company is an LLC for which ownership information is not made publicly available by the state. [ 45 ] [ 46 ] Anonymity is possible in states that do not require the public disclosure of legal ownership of an LLC, or where an LLC's identified legal owners are another anonymous company.
Corporate responsibility is a term which has come to characterize a family of professional disciplines intended to help a corporation stay competitive by maintaining accountability to its four main stakeholder groups: customers, employees, shareholders, and communities.
Examples of tasks where accountability may be more meaningful to the business management team vs. the corporate finance department are the development of new product costing, operations research, business driver metrics, sales management scorecarding, and client profitability analysis.
Corporate accountability is the acknowledgement and assumption of responsibility for the consequences of a company's actions. It can be defined in narrowly financial terms, e.g. for a business to meet certain standards or address the regulatory requirements of its business activities. [ 1 ]