This paper describes an empirical study of IT governance processes in complex organizations under conditions of environmental dynamism. Rooted in competing theories of organizational decision making and knowledge sharing, and based on a case study investigation of large, distributed organizations, this study examines the design and effectiveness of IT governance processes from both rational-analytical and social-learning perspectives. The results indicate that, regardless of the level of environmental dynamism, effective IT governance processes are characterized by both methodological comprehensiveness and social capabilities. The implications for theory development, future research, and IT governance practices are discussed.