The Herdings Cats blog had an article:
In a number of companies, particularly in small- and medium-sized busineses, CxOs do not like project management (PM). On the PMForum there is a report that while CxO’s see PM as critical, they have little confidence in project managers.
PM guru Glen Alleman makes the observation that in many commercial IT organizations:
Project Management is an afterthought … [with] none of the oversight and progress reporting, no wonder the CXO’s have no confidence. They get what they deserve. PM costs money, don’t spend the money? Then as Dr. Phil say "how’s that work’in for ya?"