Effective IT governance is a critical tool for CIOs to align their organizations and efforts to support business strategy and create shareholder value. Given the rapidly changing and evolving technology options that confront CIOs and business leaders, making sure the right decisions are being made about investments in IT is an essential priority.
There are many misconceptions about what constitutes a comprehensive IT governance model and how it is implemented. IT governance is more than just:
- Having a steering committee that meets periodically to review and approve IT plans and budgets
- Involving the business on an annual basis to assist in assigning IT priorities
- Using financial metrics such as ROI to determine whether to invest in specific initiatives
- Instituting best practices to ensure projects are completed on time and within budget
- Measuring and reporting on user satisfaction of IT services