Update as of 8/30/2020: Access to the trail has been blocked by the land owners. Apparently the ever-growing crowds on the weekends caused the land owners to say "enough is enough" and block access. Hopefully some sort of agreement can be made, or alternate access provided by the State to this beautiful section of Chugach State Park.
This trail leads to a wonderfully scenic glacial valley. It is also a great starting off point for other longer hikes, such as Raina Peak and Cumulus Mountain. The trail is mostly well defined, though a few sections early in the hike are fairly overgrown. As you climb up into the valley, the trail becomes much more obvious.
As you get towards the back of the valley, the area becomes a very rocky glacial moraine, and you'll find travel more difficult. You can stay to the right (south) side of the valley to avoid most of it, travelling across tundra instead.
The parking and access for Ram Valley is in a neighborhood. That situation has been contentious in the past, so please be courteous of the neighbors. There is a very small parking area on the side of the road, enough for maybe 2 or 3 cars. Continuing any further up the road you will find yourself in someone's driveway. When I was last there, there was a sign reminding you to not be THAT person and ruin it for everyone else.
Your hike will start up a steep powerline trail for about 1/4 mile.
After that you will find yourself on a dirt road, which you will follow for about another 1/4 mile. Keep an eye out for the trail angling off the road to the left.
There is a stream and several small lakes in the valley that you can use as water sources. There are several scenic spots that would make great campsites.