[kumaraman]

I assume the "set of specifications" is normally provided via some sort of project tracking software like Jira. A problem with this is these specifications get lost in history, not to mention become outdated as the features evolve.

From my experience having well a documented code base allows you to understand decisions at a later date, especially when key members have left the company.

[lazyasciiart]

Or the company switches to a new tracking tool and loses all the old data in the move.