Model Governance

1. (noun) The acts of controlling, directing, and standardizing the conduct, actions, and solutions associated with the oversight of Model Management.

2. (noun) The documented set of policies, standards, rules, and controls that define how one or more Model Items are to be registered, tracked, and managed within an Organization.

3. (noun) An Organization, or organizational unit, whose primary responsibility is to establish, oversee, and enforce the policies, standards, and controls governing the management of a set of Model Items.