IT Governance

IT governance is a set of processes and procedures exercised by executive/senior management of the enterprise or agency. It is designed to establish and communicate strategic direction, assess progress toward goals and objectives, manage risk, control cost, and achieve optimum resource allocation. Analysts define IT Governance as a processes that ensure the effective and efficient use of IT in enabling an organization to achieve its goals.

Industry Challenges

With the increasing pressure on IT where it is supposed to be working as business, a lack of governance across any section of IT landscape can be challenging. The result of weak IT Governance strategy can hit the overall success rate of the projects run, a research shows impact in form of a decrease in project success rates, with 32% of all projects succeeding (delivered on time, on budget, with required features and functions); 44% were challenged (late, over budget, and/or with less than the required features and functions); and 24% failed (cancelled prior to completion or delivered and never used). These numbers represent a downtick in the success rates from the previous study, as well as a significant increase in the number of failures. The low point in the last five study periods was 2000, in which 28% of the projects were successful; that same year 23% failed. ** Source Standish Group Chaos Summary 2009