Why, by implementing the hand-off method, are there multiple project managers in control of the project as it progresses through the development life cycle?

JUDGEMENT
The hand-off method of development is common in smaller, less mature, and
technically focused companies in which true project management value is usually
not well understood and the engineering functions reign king. Unfortunately, this
method is not scalable, and as a company begins to succeed and grow, product and
process complexity requires the management team to look at alternative methods
to structure and manage its product development efforts. This was the case with
Hosp Tek.
Discussion items
1. Why, by implementing the hand-off method, are there multiple project
managers in control of the project as it progresses through the development
life cycle?
2. Do you agree with the judgment that the hand-off method is popular in companies where true project management value is usually not well understood?
Why or why not?
3. What are the pros and cons of the hand-off method?