What role does an IT steering committee serve in relation to IT governance?

The role of an IT steering committee in relation to IT governance is primarily focused on approving and monitoring IT budgets and plans. This committee is responsible for ensuring that the organization's IT strategy aligns with its overall business goals. By approving budgets, the IT steering committee allocates financial resources to various initiatives, ensuring that funding is aligned with strategic priorities. Additionally, monitoring plans allows the committee to oversee the progress of IT projects, ensuring they stay on track with set objectives and within budgetary constraints.

This alignment and oversight are critical for effective governance as they help manage resources efficiently, assess risks associated with IT investments, and evaluate the overall IT portfolio's performance. The steering committee's involvement in both budget approval and monitoring helps maintain accountability and ensures that IT initiatives deliver value to the organization.