TL;DR Spend 80% on expensive consultants qualified in "project management method" such as PRINCE2/V-Model and make a f *g nightmare for the people who actually try to make it work. A picture is worth a thousand words: https://upload.wikimedia.org/wikipedia/commons/8/8f/Systems_...
Having worked in heavily bureaucratic organisations, I was reading the pdf as an allegory of the blame game and safety first heavily bureaucratic, process driven culture big orgs have, which do nothing to do actually reduce risk - rather it stifles people actually being able to, and wanting to, change anything.
Basically I came away with the opposite to what you said.