Project Alpha, Project Matrix, Project Tiger, Project Transform, and what other goofy name they can all come up with are nothing more than a way to pack a GANNT chart in the hope it will bid you more time. When corporate slogans become the empty platitudes they are in other firms then you know things are way off from just a few short years ago.
All I can picture is the bunker in the movie Downfall filled with yesmen, tongue-tied generals, and still-brainwashed sycophants surrounding a hollow man who still has yet to fully realize that his own stupidity has led to this.
Most service companies in the organization are held to strict SLAs to insure information and infrastructure availability as close to the 100th percentile as possible, and some (not ETC) have had to do this with already lean and low staffing levels.
Where are the controls, percentages, and penalties that management, PMs, and those involved in overbudget MCPs have to comply with? These tremendous cost overruns do not occur because someone is unable to access their data for 10 minutes, but through incompetence in the long periods of years that make up these project planning phases.
Continuing to cut and shift services and support work overseas or to outsourced vendors is not going to save a signifcant amount of money when these projects continue to excercise fiscal controls like a lottery winner. Being on the profit center side of the business does not grant one carte blanc to ignor fundamental capital controls.