Workflow is a complicated area, and there is no simple "best" answer. If it were me, I'd archive all the Alexa ArriRaw files to (say) 3 sets of drives as backups, then make one set of compressed media for dailies/viewing/editorial, maybe in ProRes 422LT with burned-in visible timecode, but identical filenames to the original media and synced up to the multitrack audio. I'd edit with that, then once the show is locked, hand the XML to the colorist and let them reconform back to the camera original files. Don't reuse the camera cards until you've absolutely verified that the copied files are perfect (using checksum comparisons).
Lots of info on workflow in these two books:
"Modern Post: Workflow & Techniques for Digital Filmmakers"
by Scott Arundale
https://www.amazon.com/Modern-Post-Work ... 0415747023"The Guide to Managing Postproduction for Film, TV, and Digital Distribution"
by Susan Spohr & Barbara Clark
https://www.amazon.com/Guide-Managing-P ... 1138482811Whatever you do, test the workflow first by taking a camera roll, transcoding it to HD, make a few test edits, and then see if you can still relink to the original camera files. Chances are good if that process works, the whole show will work.
I'm also a fan of having the camera department shoot a color chart and a framing chart at the beginning of the day, and maybe another color chart on every location change or new light setup.