Thank you 'Not_a_Boffin', that answer to 'Bob Viking' nicely encapsulates my thoughts - arguably, better than I'd have expressed them.
That later part of your answer is, I think, a major issue. To be fair to (some) civil servants, that lack of real control of variation of finances also concerns many of them; the impression I have is that the Treasury has a very limited and restricted view of finance, which inhibits a lot of things.
'Bob Viking'; I was not intending to cast aspersions at aircrew, junior or senior. I know, like and admire the flying skills of quite a few of those, both currently serving and retired. It was simply that running a major project is not, typically, the same as running an operational unit. Quite different challenges, which may not necessarily be readily realised, nor the necessary skills assimilated. (It may also not be a cost effective way of using the experience and skills of those officers! )
Both 'reds and greens' and 'Easy Street' make darn good points. Ideally a capable competent individual should oversee the whole thing, from start to finish. The ultimate 'leadership' role may be held elsewhere, but unless sufficient authority is delegated to permit continuous adequate resources to be maintained, it's a poisoned chalice. Needs clear authorisation backed up at the highest (political?) level and a very strong character!