What is the MOST important element for the successful implementation of IT governance?

The most important element for the successful implementation of IT governance is identifying organizational strategies. This is because IT governance must be aligned with the overarching goals and objectives of the organization. When governance structures are developed with a clear understanding of the organization's strategies, it enables IT to support and drive these objectives effectively.

Understanding the organizational strategies helps in defining how IT resources can be allocated and managed to deliver maximum value. It ensures that IT initiatives contribute to business outcomes and are not just technical in nature. This alignment facilitates better decision-making, prioritization of projects, and effective communication across the organization.

In contrast, while implementing an IT scorecard, performing a risk assessment, and creating a formal security policy are all important components of IT governance, they serve more as mechanisms and tools to support the governance framework rather than foundational elements. Without a clear alignment to organizational strategies, these components may not achieve their intended impact. Thus, identifying organizational strategies stands out as the cornerstone for successful IT governance implementation, guiding all other IT-related decisions and actions.