A framework that defines how decisions are made, who has authority and accountability, and how oversight is exercised within an organization or project. It establishes the structure of roles, responsibilities, and processes for effective management and control.
From 'governance,' derived from Greek 'kybernan' (to steer, govern) via Latin 'gubernare,' combined with 'model' from Latin 'modulus' (measure, standard). The business usage evolved in the 1990s as corporate scandals highlighted the need for clear accountability structures.
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