You’ve found yourself too bureaucratic of a development company any time there’s more paperwork, conference calls, and emails than there is actual work being done.
Good development is a heck of a lot of creative and whole lot of logical. As such, it requires a lot of action, trial and error, and exploration.
Your project manager should be dealing with the communication while the developers are creating, updating, or building something.
If your project is being delayed by a seemingly endless process of spec writing, requirements editing, and muddled communication, you need to find an agency that knows where the talk should stop and the walk should begin.