To deliver a future fit tech strategy in the service of customer obsession, tech leaders must develop a solid foundation for technology governance. Tech governance — the policies, frameworks, and processes that facilitate funding and resource allocation, risk management, and measurement of progress — plays a critical yet often overlooked role in maximizing the business value that technology delivers. This report examines the actions that tech leaders must take to lay the foundations for effective tech governance. This is an update of a previously published report; Forrester reviews and revises it periodically for continued relevance and accuracy.