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Why do excellent project managers fail with a lack of soft skills and relationship management?
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I have come across many expert project managers with excellent execution tools and techniques and yet they fail because of the lack of team support and sponsorship and knowing the "right people and in the right places". I would like to hear your thoughts. Thanks
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If a PM does not have soft skills and relationship management skills, I would not consider them to be 'Excellent Project Managers'.
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First of all, I just reported Himanshu's spam.

That being said, I agree with Veena's remark. Soft skills can not be learned by memorizing the PMBoK or alike books. Like everything else in life, a balance between soft and hard skills is desirable.
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Projects vary in their level of necessity for stakeholder interaction. Further, soft skills and relationship management are very subjective. What you may call "fail" others might call successful. If by "excellent" you mean the project was successful, then the other matters may be a moot point. If on the other hand, the project was successful but the project manager was burning bridges along the way, he/she won't be managing too many projects in the future.
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What does mean "excellent"? The organization where the project manager belongs to is the responsible to evaluate the project manager. So, is not about what you or I think about a project manager. Is about an objective evaluation from the place where she/he is performing the role. And the organization (environment, something added with high detail in the new PMBOK Guide version) will drive each people behavior including the project manager.
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Doing right things at the right time is a skill that makes the PM good from excellent. PM's do have the knowledge and tools for managing the projects but that alone won't make him an excellent PM. The one that is thinking out of the box, going an extra mile, having best persuasive communication skills along with professional demeanor that makes right decisions is considered as an excellent PM. I have seen those are the ones that get jobs easily, and stay in the jobs for a long time and is liked by the leadership always.
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Because they are opposite sides of the project manager. On one hand, you need to be able to get things done. On the other hand, you need to get things done by people.

Each side of the project management equation requires its own set of skills and experience.

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