A board of directors has just received a report indicating that only a small number of IT initiatives have been completed on time and within budget, A third of the projects were cancelled prior to com

A project governance framework specifically defines the roles, responsibilities, decision-making processes, reporting structures, and control mechanisms for managing projects, directly addressing the issues of lack of accountability and inconsistent execution. It ensures projects are properly initiated, monitored, controlled, and closed, leading to improved project success rates.

Assigning business management to an IT investment review board addresses portfolio selection and oversight, but it does not directly solve the problems of inconsistent execution and lack of responsibility during project delivery.

Establishing an IT risk management plan is crucial for identifying and mitigating risks, but it's a component within a broader governance structure and doesn't inherently create accountability or consistent execution for all projects.

Aligning IT investment priorities to the business ensures projects chosen are relevant, but it does not guarantee their successful, on-time, and within-budget execution once approved.