If this style of project management worked, then companies that used it would be at the top. But they aren't.
The only companies that seem to use it are government projects, or corporations where software isn't their main concern. In my experience software output by these organisation is basically awful.
They don't get software development is more of discovery and learning process, where you become increasing better at serving your customers as you learn more. It's not a gather requirements, implement then finished thing.