IT Governance covers the culture, organization, policies and practices that provide this kind of oversight and transparency of IT – IT Governance is part of a wider Corporate Governance activity but with its own specific focus. The benefits of good IT risk management, oversight, and clear communication not only reduce the cost and damage caused by IT failures – but also engenders greater trust, teamwork and confidence in the use of IT itself and the people trusted with IT services.   IT Governance has become very topical for a number of reason:

• IT has a pivotal role to play in improving corporate governance practices.
• Management’s awareness of IT related risks has increased.
• There is a focus on IT costs in all organizations.
• There is a growing realization that more management commitment is needed to improve the management and control of IT activities.

Reference:

IT Governance Developing a successful governance strategy A Best Practice guide for decision makers in IT