What Is Policy Governance?
Policy governance is the system by which an organization creates, approves, distributes, maintains, and enforces its policies and procedures. It ensures that policies are not just documents on a shelf but living controls that are understood, followed, and evidenced throughout the organization.
The Policy Lifecycle
Policy governance follows a lifecycle: Draft (create policy content), Review (stakeholder review and feedback), Approve (formal approval by authorized signatories), Publish (distribute to relevant audiences), Attest (collect acknowledgments from employees), Monitor (track compliance and effectiveness), Review (periodically reassess), and Retire (archive superseded policies).
Policy vs. Procedure
Policies define what must be done and why; procedures define how it is done. Policies are principle-level rules; procedures are step-by-step instructions. Both are needed — policies provide the framework, procedures provide the operational detail. MPG manages both policies and procedures in an integrated workspace.
Policy Distribution and Attestation
A policy is only effective if it is communicated and acknowledged. Policy governance includes distributing policies to the right audiences, tracking who has read and acknowledged them (attestation), managing exceptions, and following up with non-respondents. MPG automates distribution and attestation campaigns.
How MPG Supports Policy Governance
MPG's policies and procedures module provides policy authoring with a rich text editor, approval workflows, version control, distribution management, attestation campaigns, exception tracking, policy review scheduling, effectiveness monitoring, and full audit trails — all connected to risks, controls, and compliance obligations.
Key Takeaways
- Policy governance ensures policies are living controls, not shelf documents
- The policy lifecycle: Draft, Review, Approve, Publish, Attest, Monitor, Review, Retire
- Policies define what and why; procedures define how
- Distribution and attestation are essential for policy effectiveness
Frequently Asked Questions
How often should policies be reviewed?
Typically annually, though high-risk policies may require more frequent review. Regulatory changes should trigger immediate policy review. MPG sends automated review reminders and tracks which policies are overdue for review.
What is policy attestation?
Policy attestation is the process of collecting formal acknowledgments from employees that they have read and understood a policy. It provides evidence that the policy has been communicated. MPG automates attestation campaigns with tracking and follow-up.