Conventional IT planning approaches, which are based on applications, begun to be disputed with the rising interest in service-oriented architectures. But, given the status-quo of the IT landscapes in most companies IT management faces a dilemma. Should IT governance for transformation projects remain at the application-level or should services become the heart of the transformation? In this paper we reframe the ongoing debate on IT governance by introducing a multilevel approach centered on capabilities. In particular, we present an information model, aggregation mechanisms to support performance management based on the model and a planning procedure that guides IT managers and enterprise architects on how to apply our method. Finally, we introduce an example and a prototype to contextualize our method. First findings suggest its usefulness in supporting large enterprise transformation projects.