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Therefore, by determining both the short and long term impact of the project to the organization through evaluation, the governance body finds stable grounds to prioritize an IT project (Dye & Pennypacker, 1999).

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Secondly, IT projects can be prioritized, by the governance body, through analysis of the value of the business to all the stakeholders (both external and internal). This analysis need to define the business value in terms of cost, quality, efficiency and flexibility. All these factors are crucial as they allow the governance body to identify or rather find the priorities of different stakeholders. Involving the key stakeholders is as important as the business itself because they need to have an understanding of the projects’ nature and how they will impact on the entire business. This levels the playing field for all stakeholders and cuts across the culture and political aspects in the organization. Therefore, an IT project can be given priority according to the preferences or priorities of the business’ stakeholders (Rad & Levin,