Done right, specs grading allows students choice and agency in how and when they are assessed; students are graded on what they can eventually show that they know, and they get to learn from mistakes and build upon failures; their grades are based on actual concrete evidence of learning; and the grades themselves convey actual meaning because they can be traced back to concrete evidence tied to detailed specifications of quality. The instructor often saves time too, because instead of determining how to allocate points (which takes more time than you think), she just determines whether the work is good enough or not, and gives feedback instead.