Web 2.0 and Collaborative governance

Check out Stimuluswatch.org
The site lists all proposed "shovel-ready" projects, where the Obama administration is planning to invest the stimulus money.

OKay...What's new??
It let's people (not just administrators, contractors..but just about anybody who cares) to rate these proposed projects.

Simple, yet effective. Citizens with their knowledge on the local environment, rate these projects on it's viability. Provide comments on it's priority, suggest improvements. In turn, this gives an 'on the ground' perspective to the policy makers sitting in the capitol hill.

A number of critical attributes of such 'collaborative governance' stand out, such as
- Brings in transparency to decision making process involving public spending
- Makes authorities accountable for decisions made
- Harnesses collective intelligence
- Inclusive approach in policy making brings in a positive energy

I wonder if we can extend similar web 2.0 features to bring more transparency in Corporate Governance. In the current economic environment, where the purse strings are tighter than ever, can we go for an inclusive approach in determining where to invest the money on? Can we use this approach in prioritizing projects we pick for execution?

Would like to know what you think...