Cloud computing is dominating today's IT conversations. Information about what the cloud is and what it means is coming from every imaginable direction. Though there is many questions to be answered, the promise of cloud computing leaves little doubt it will have an enormous impact on organizations of every shape and size. Enterprises will face countless decisions about how, where, and when to deploy cloud-based solutions and services. More than ever, governance of these decisions will require sound Project and Portfolio Management (PPM) processes to ensure they are ultimately in the best interest of the organization.