A global organization has noticed a significant decrease in the return on IT investments in a particular region. To enhance project governance in this region, the CEO should FIRST

Performing calculations and reviewing methodologies are analytical steps that should follow an initial understanding of the situation from the regional leadership.

Suspending funding or reassigning staff is a drastic measure that should only be considered after a thorough investigation and understanding of the problem, as it could demotivate local teams and worsen the situation.

Performing an independent review of business cases is an investigative step, but engaging directly with regional leadership provides critical context and qualitative insights that purely retrospective document review might miss.

Working with the region's leadership is the crucial first step because direct engagement allows the CEO to gain a deeper, nuanced understanding of the specific local challenges, operational issues, or contextual factors contributing to the poor performance. This collaborative approach fosters trust and ensures informed decision-making based on root causes, rather than symptoms.