As information technology (IT) becomes more important for organizations, the necessity for strategic IT management and alignment grows. However, most small- to medium-sized enterprises (SMEs) do not have the resources or appeal to employ a full-time Chief Information Officer (CIO). Refraining from assigning such responsibilities can have severe consequences on an organization’s performance. To address this gap, several individuals already follow the role of holding CIO positions at multiple SMEs, each with a fraction of their time. While the so-called “Fractional CIO” role is already creating value in practice, there is no research on Fractional CIO engagements. This paper develops a research framework for Fractional CIO engagement success based on interviews with 40 Fractional CIOs from 10 countries and existing literature. The components influencing success are the Fractional CIO, the client, their relationship, and the engagement setup. The paper contains implications for theory and practice and outlines detailed next steps.