In response to your statement "Ask 10 people what IT governance is and get 10 different answers" in the March 15 edition of Computerworld (GBU), the commonwealth auditor general described IT governance in the ANAO Report No. 33 of 2002-03 (available on the ANAO Web site www.anao.gov.au) as follows:
What is IT Governance?
2.1 Governance is the set of responsibilities and practices exercised by the organisation's executive with the goal of providing strategic direction, ensuring stakeholder and organisation objectives are achieved, managing risks appropriately and using resources responsibly.
2.2 IT governance is an integral part of agency governance. IT governance ensures that: an agency's IT strategy is aligned with, and supports, the agency business strategy; appropriate control structures are implemented; IT resources are used responsibly; and IT performance is measured and appropriately managed.
In summary, IT governance is a system of control to ensure that business objectives are achieved efficiently and effectively.
Australian National Audit Office