From an IT governance perspective, establishing performance measurements is PRIMARILY the responsibility of:

An IT architecture review board focuses on architectural adherence and technical standards, not the primary establishment of broader IT performance measurements for the enterprise.

Senior management, including the CIO and other business leaders, is responsible for setting strategic direction, defining business objectives, and allocating resources. Consequently, they are primarily accountable for establishing performance measurements (e.g., KPIs) for IT to ensure that IT services and projects contribute effectively to business goals, provide value, and operate efficiently, thereby linking IT performance directly to organizational success.

The board of directors provides strategic oversight and ultimate accountability but delegates the detailed establishment and monitoring of operational performance measurements to senior management.

Enterprise Risk Management (ERM) is concerned with identifying and mitigating risks, which informs performance measurement but isn't primarily responsible for setting the measurements themselves.