Every time you revisit a process you can keep it, kill it or amend it. It sounds pretty evolutionary to me.
What I liked is that adding some fail indicators as part of the policy actually gives ammunition to the people that want to change the policy for the better against people that are abusing the current form of the policy.
If it's updated, it's sent out to all employees. Some require a digital signature (i.e., a process for handling customer data) to make sure it's read and understood.
Each review has a commenting period (4 weeks) for techs to ask questions or voice their opinion on the changes before it's approved.
It's helped keep the important documentation current, helped the processes evolve and allows the people that actually use the process to have input on the matter.
Perhaps by "archive" you mean something like "delete", in which case I would like to strongly encourage you to not use "archive" to mean that, because it's the opposite of the standard meaning of "archive".