Weill and Ross (2006) propose a state-of-the-art framework for IT governance in their book “IT Governance: How Top Performers Manage IT Decision Rights for Superior Results”. The framework consists of four key areas:

IT principles: This involves developing a set of IT principles that guide decision-making about IT investments and operations. These principles should be aligned with the organization’s overall goals and values.
IT architecture: This involves developing a comprehensive IT architecture that supports the organization’s business goals and enables effective communication and coordination across different parts of the organization.
IT infrastructure: This involves managing the organization’s IT infrastructure, including hardware, software, networks, and data, to ensure that it supports the organization’s business goals and is secure, reliable, and cost-effective.
IT investment and prioritization: This involves developing a process for prioritizing and managing IT investments to ensure that they align with the organization’s business goals and provide the greatest value.
Weill and Ross argue that effective IT governance requires a balance between centralization and decentralization of decision-making authority. They propose a “federated” model of IT governance, in which key decisions about IT are made centrally, but with input from representatives of different parts of the organization.

Overall, the framework proposed by Weill and Ross provides a comprehensive approach to IT governance, emphasizing the importance of aligning IT with business goals and managing IT investments and operations effectively to deliver value to the organization.