Although the CIO has a vital role in the process, business decisions need to be made by the business, not by IT. That means forming a group with the skills to identify all relevant risks, costs and benefits. Pulling such a team together on an ad-hoc basis for each project is inefficient and frustrating. It is far easier to assemble an advisory group to meet on a regular basis to assist with analyzing IT project proposals for all of these factors. This advisory group or committee can help the CIO in developing realistic estimates that can feed into the project selection process. And having gone through the analysis process in detail for all of the proposed projects, this advisory group is ideally positioned to make recommendations to the executive committee about which projects should be funded and which should be rejected. The advisory board also helps reduce or eliminate the resentment of business managers who have proposed projects that get rejected.

Read more about the benefit of advisory groups:
- read the blog at CIO