Step 2: Put good manager in project lead position because only management matters everything else is a commodity.
Step 3: Shift low cost entry level employees to the number 1 project to keep costs down and thus boost ROI.
It is surprising how Microsoft and Sony (not video games companies) manage to run several successful AAA projects at the same time, while game companies, like EA, Ubisoft and Activision-Blizzard fail.
I.e. Microsoft produced a lot of really good games, as well as remasters for Fable and the Age of Empires. And most Sony's games are really well polished. They are released when they are ready. For example, both Ico and Last Guardian were delayed for years, when it was found that current hardware was not powerful enough to run them smoothly. Ico was originally developed for PS1, while Last Guardian was PS3 project. Then Sony made perfect remastering of Shadow of Colossus. Recently Larian made a nice Baldur's Gate remaster, which required them to reverse engineer the executable, because source code was lost. Resident Evil remasters are great. Square-Enix over the years made numerous remasters, mostly fine, with the exception of Final Fantasy VI, which was totally botched, but the remaster of the flagship FF VII appears to be the best example of how AAA games remasters should be done.
BTW, EA decided to remaster the original Command & Conquer. It is still 2d, but the upscaled graphics looks fine and the developers are actually the original Westwood people.