Which of the following best describes the 'RACI matrix'?

The RACI matrix is a tool commonly used in project management and organizational processes to clarify roles and responsibilities. It stands for Responsible, Accountable, Consulted, and Informed, which represent the different roles that individuals or groups may play in relation to a specific task or process. By using the RACI matrix, teams can delineate who is responsible for executing tasks, who is ultimately accountable for their completion, who should be consulted for input, and who needs to be kept informed about progress and decisions.

Using this framework in risk management processes ensures that all participants understand their specific contributions, which is crucial for effective communication and collaboration. It minimizes confusion and overlaps, leading to more efficient risk assessments and management responses.

The other options do not accurately describe the RACI matrix. For example, while it may contribute to risk management, it does not provide a visual representation of risk assessments or analyze the financial impact of risks. Additionally, it does not categorize the levels of risk, but rather focuses on defining the roles involved in managing those risks.