The problem (and solution) isn't necessarily to change the process. Assuming good faith and competence when designing the process, all (or similar) of the downsides encountered in the scenario were considered when designing the process, and the cost-benefit came out ahead to add the extra safeguards the layers.
As demonstrated by the end of the scenario, the 'solution' was the president to more directly intervene.
The failure in this scenario isn't necessarily that the process got in the way, it was that when the President and IT Director kicked off the action, they were not fully aware of the efforts and overrides required to escalate to 'do this now'. A converse failure is that the intent of the President and IT Director was not properly communicated to all stakeholders in the process.
As demonstrated by the end of the scenario, the 'solution' was the president to more directly intervene.
The failure in this scenario isn't necessarily that the process got in the way, it was that when the President and IT Director kicked off the action, they were not fully aware of the efforts and overrides required to escalate to 'do this now'. A converse failure is that the intent of the President and IT Director was not properly communicated to all stakeholders in the process.