Abstract
Challenging issue of transformation project (program) management is discussed
 in this paper. Transformation projects are widely implemented by
 companies and their successful implementation has a direct impact on the
 competitiveness of companies. There are a number of transformation project
 management methodologies invented and widely implemented today,
 however, according to various estimates, from 60 to 70% of the transformation
 projects still fail.
 This article describes main transformation project management methodologies,
 as well as the results of various researches done in the field of identification
 of factors of failure of transformation projects. This paper explores an
 unsuccessfully implemented transformation project of procurement function
 in a large Russian energy corporation. Key failure factors of transformation
 project implementation are revealed and recommendations to prevent the
 issues identified are made in the form of �lessons learnt�.
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