I literally have been working on something like this for a spare-time project, and am so glad to find this. Now I can throw out my code and move to the next stage of the project.
Depends where you work. Judging from reading HN, 95% of all devs here are writing webshitapps for companies that don't give a flying eff about development, just profits. I develop embedded hardware for tier 1 automotive manufacturers, and we have to adhere to several ISO standards, and a number of tools for managing documentation and code hygiene. Traceability of requirements, security, functional safety, and risk assessments are associated with every single decision and every single code commit. It is a lot of documentation, but I'm a pedant and I love it. It is a design process for adults, by adults.