One of the things that people watching the real time breakdown of twitter but don't ever seem to get is that #institutionalmemory isn't about having enough documentation, comments, test and dev history on the code, database, infrastructure; most places do have that.
Its about the practical real tie knowledge of how those things actually interact in real time.
I am institutional memory for several parts of the programs we test. I was not just the first tester; I sat in on design sessions.