In today’s fast changing economy, ICT project governance has become as one of the most central corporate responsibilities. Despite more than 50 years of history, countless methodologies, advice and books, ICT projects keep failing. This research investigates the effects of critical success and failure factors through the effectiveness of ICT governance framework. The aim of this research is to produce an ICT governance framework to reduce the failure rate of ICT projects. A process improvement framework is constructed through the combination of standard set of framework practices and PDCA method model to reduce the failure rate. Evaluation of existing and proposed ICT governance framework has structured based on project governance parameters. Moreover, discussions with project managers have taken place to analyse the context of governance frameworks according to their best practices. In future, this tested framework will be proposed to the project managers or related organisations to apply on their projects for evaluating the significance.