This paper examined the critical aspects of achieving excellence in IT governance by focusing on the roles, responsibilities, and risk management practices essential for organizational success. In the digital age, where technological advancements continuously reshape business landscapes, the study analyzed how well-defined roles and responsibilities within IT governance frameworks contribute to accountability, strategic alignment, and risk mitigation. By reviewing contemporary literature and case studies, the research identified the challenges organizations face, such as integrating emerging technologies, ensuring compliance with evolving regulations, and managing stakeholder expectations. The findings indicated that effective IT governance requires clear assignment of roles, regular updates to governance frameworks, and continuous improvement to adapt to new technological and regulatory demands. The study also highlighted the importance of organizational structure and culture in shaping the success of IT governance initiatives. Centralized structures often lead to more consistent governance practices, while decentralized models may require tailored approaches. Moreover, a culture of transparency and accountability is essential for fostering compliance and innovation within governance frameworks. The paper concluded by offering strategies for enhancing IT governance, emphasizing the need for leadership commitment, stakeholder engagement, and the integration of advanced technologies like AI to automate and improve governance processes.