We think about 70 percent of transformations end up not achieving their objectives. That doesn’t mean that they end in a train wreck but it means that they end up delivering a lot less than expected, it means that it takes a lot longer than expected, or it means that the change proves a lot shorter-lived than people expect.
A successful transformation depends at the end of the day on two things. It depends on good governance and good leadership. If you get those two things right, a transformation will deal with whatever curveballs and whatever turbulence it runs into. Good governance provides a framework for making whatever changes are required, and good leadership will ensure that those changes are made in a timely manner and are pushed down to the rest of the organization.