Definition of IT governance (Weill & Ross)	Specifying the decision rights and accountability framework to encourage desirable behavior in using IT
Definition of corporate governance (OECD in Weill & Ross)	Providing the structure for determining organizational objectives and monitoring performance to ensure that objectives are attained.
Desireable behavior embodies... X ... creates Y (Weill and Ross)	X = the beliefs and culture of the organization, Y = value
Effective IT governance is the single most important predictor of... (Weill & Ross)	...the value an organization generates from IT.
Governance occurs via... (Weill & Ross)	organizational mechanisms (e.g. structures, processes, committees, procedures, audits)
Governance vs management (Weill & Ross)	Governance determines who makes decisions. Management is the process of making and implementing the decisions.
Six organizational assets that must be governed to create value (Weill & Ross)	human, financial, physical, intellectual property, IT, relationships
Three questions IT governance answers (Weill & Ross)	(1) What decisions must be made to ensure effective management and use of IT?  (2) Who should make the decisions?  (3) How will these decisions be made and monitored?