In our technology strategy discussion, it’s crucial for technology executives to stay updated on strategy management and its application to different initiatives. Tech strategy governance plays a critical role. Having a governance strategy is key to the overall technology strategy.
8. Develop Governance – to facilitate and enforce strategy execution
This could be an evolved version of the previous governance mentioned in Step 1 – Develop Charter. Establishing a strong governance structure ensures effective execution, communication, monitoring, and review of the plan once it is implemented.
Governance usually includes the following:
- Appointing one person who will be the owner and in charge of the plan.
- Identifying people who will take care of the strategy plan, the core Program team.
- Identifying those who will participate and facilitate its execution within IT and Business, the virtual team.
- Appointing one or more stakeholders to steer and monitor, the executive steering committee.
- Determining the rhythm of collaboration amongst stakeholders via meetings, committees, workshops, reviews.
- Defining controls via standards, policies, and processes (such as change management).
Strong tech strategy governance, physically tangible and empowered by top leadership with clear authorities, is vital for effectiveness. This can be achieved through a robust IT governance framework, which includes clear roles and responsibilities, standardized processes and procedures, and regular monitoring and review of IT operations. This framework should also ensure alignment of IT goals and objectives with the overall business strategy.
In conclusion, tech strategy governance is essential for the success of any organization. It helps to streamline operations, improve decision-making, and ensure alignment with business goals. By implementing a robust IT governance framework, businesses can effectively manage their technology resources and drive growth and innovation. So, it is crucial for organizations to prioritize IT governance and continuously review and improve their processes to stay ahead in today’s rapidly evolving digital landscape. With the right IT governance strategy in place, businesses can leverage technology as a powerful tool to drive long-term success and achieve their goals.
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