A recent survey conducted by the Information Systems Audit and Control Association revealed many enterprises are using IT governance practices in order to manage risk from IT systems.

Of all the IT executives polled, 42 percent stated management of IT-related costs are the main outcome of IT governance practices. In Europe, compliance and security standards have also become a major driver for governance projects.

Beyond management of IT costs, improved communication between IT and business operations was named by 39 percent of those polled and 37 percent noted an improvement in IT delivery of business objectives.

The ISACA's survey also found those companies with a head of IT on their executive board are more likely to view IT as a proactive role within the business.

"This points to an area in which governance of enterprise IT could have a significant impact, improving communication and transparency between business and IT, and putting in place the right enablers to ensure that IT can play a more proactive role in the enterprise," the ISACA stated in its Governance of Enterprise IT 2011 report.

The ISACA's research affiliate, the IT Governance Institute, recently completed a report on IT governance in India, where more than 50 percent of respondents felt governance led to improved management of IT-related risks.