Which of the following is MOST important when an IT-enabled business initiative involves multiple business functions?

While budget allocation is necessary, it's a tactical outcome of effective governance, not the most important foundational step for cross-functional success.

Conducting a systemic risk assessment is important for any initiative, but it's an analytical step that benefits from, and often relies on, the broad stakeholder input provided by a steering committee.

Developing independent business cases would lead to fragmented efforts and lack the necessary cross-functional alignment, contradicting the need for unified governance and oversight.

A steering committee with representation from all involved business functions ensures that diverse perspectives, requirements, and concerns are heard, integrated, and prioritized. This collaborative oversight facilitates decision-making, resolves conflicts, secures buy-in, and aligns the IT initiative with the overarching strategic goals of the entire organization, which is crucial for cross-functional project success.