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Torque bow and sniper is the best combination. These will be key weapons in the fight. Make sure your ammo is at the highest capacity, along with 4 grenades. However, there is a good way to kill Raam if you forgot to get the bow and sniper rifle: Get behind a concrete block shoot at Raam until he gets to you, then throw a grenade behind him a knock off the kryll. Don't try to impale him with the lancer. It doesn't work. The troika is very effective, however it is unprotected and nigh impossible to reach.
If you are playing alone, get the torque bow, some grenades, and the longshot sniper rifle or just the Lancer. If you are playing with a friend, one of you get the torque bow and one of you get the sniper.