With waterfall-kind of planning, that would work. Unfortunately it got a bad name in the '90s and early '00s. The wild-west of inexperienced developers, who needed to solve business problems they didn't understand, combined with clients who didn't understand technology.
I believe this is a great period to do bigger things, and you see this happening with for example SpaceX, Tesla and Apple: space is happening again, companies are creating super specialized and complex ICs, there's actual business value and consumer value being produced, and projects are reasonably on time with these companies. This in constract with companies who, what it seems, do more of an iterative approach: Facebook, Google, Amazon. No huge innovation going there.