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Change management is vastly under considered in my experience with corporate projects and initiatives.
Change management ensures that all stakeholders and the environment of the organization are ready to utilize project outcomes, to actually become benefits for the organization.
The problem is, currently and as I've seen it, executives and project sponsors commonly believe in "if they build it, they will come," which negatively impacts the project's benefits realization. For example, if I built a conference center in the middle of the desert, can I realistically expect a booming business?? Of course not.
The same logic applies to corporate projects, programs, and initiatives--the environment must be made ready to receive the outcomes so the beneifts can be realized.
You can't dictate to people what they want, you have to consider their needs and wants and build your project around that.
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