I post a lot of links and excerpts to other articles. I was recently came across a must read article on SharePoint governance on CMSwire entitled A Square Peg in Round Holes: Using SharePoint for Multiple Solutions

Trying to get SharePoint to fit into any one bucket won’t work. Depending on how you use it and what solutions you want to use, it could fall into many different categories. This is why governance is very important to any SharePoint implementation. It isn’t simply about installing it, configuring and building solutions, but instead should be about an ongoing relationship between all areas of the organization, making decisions for the good of the business. There are multiple ways to do things when it comes to SharePoint and many paths can be considered the “right” path based on your goals. Because SharePoint spans across so many different components it is essential for teams to work together to find the best solutions.

The best way to ensure that you are making the right decisions is to consider the impact each choice will have on the business. By doing this, you tie each decision to a business goal or objective and not to the technology alone.

This article was so good I wanted to paste the whole thing and not just excerpt a small chunk.