Not going far enough
Businesses in general, not just IT, need to embrace project portfolio management as a strategic tool. Functional management, based on 19th century military organisation and the empire-building that goes with it no longer works - the 'Matrix management' bollocks that is replacing it simply adds cost and confusion. Everything a company does is a 'project' and should be organised and managed as such. The oversight of those projects needs to be at strategic level reporting directly to the board.