I recently was working as a contractor for an insurance company that had stringent but outdated standards for programming. Their standards had grown from guidelines for proper development into barriers to innovation.
The problem is that standards can become outdated as the technology grows. What once was a guide now is a roadblock. It is important to have someone or a group review existing standards and examine how they may be hampering growth.
As with all parts of the IT landscape, standards that do not change will rapidly outgrow the technology.