Most product development managers have serious problems completing projects on time and on budget.
While many companies perceive product creation as being somewhat analogous to manufacturing activities, there are significant differences between these processes.
Failure to understand these critical differences has led to several misconceptions that undermine the planning, implementation, and evaluation of product development projects. When you choose software product development services, it's important to keep these misconceptions in mind.
Misconception 1: High usage increases efficiency
During our research and consulting projects, we have repeatedly seen that the vast majority of companies persistently try to fully use all of their product development resources. The logic seems pretty obvious: when people aren't working 100% of the time, the project timeline increases - hence, a busy organization will be faster and more efficient.
Misconception 2: Working with large batches improves the economics of the development process
The second reason for queuing in the product development process has to do with batch size. Suppose a new product consists of 200 components. One way to work would be to design and build all 200 parts, and then get busy testing them.
If you instead designed and built only 20 components before testing, the batch size would be 90% smaller. This would have had a huge impact on the length of time in the queue, since the average queue size is directly proportional to batch size.
Misconception 3: Our development plan is great, and we just need to stick with it
In all of our research and consulting work, we've never seen a product development project whose requirements didn't change during the process. Yet many organizations believe deeply in their plans, and for no good reason. They attribute any deviations from the plan to poor management or implementation. And to minimize the impact of these problems, they carefully compare the results of each step to intermediate goals.
This can lead to poor results in product innovation processes, where new knowledge is constantly emerging and conditions are constantly changing.
Misconception 4: The sooner a project starts, the sooner it will be completed
Many managers anathematize the very idea of free time. They tend to use every minute and often start new projects to do so. This forces the company to start more projects than it can handle. The result is a dilution of resources. This is something both nodejs development company and others face.
Misconception 5: The more features a product has, the more customers will like it
Product development teams believe that adding new features to a product creates value for customers, while discarding existing features, on the other hand, destroys value.
Misconception 6: Our projects will be more successful if they get it right the first time
A lot of product development projects rarely achieve their goals regarding budgets, schedules and specifications. Often, companies often overlook another reason: managers' demands to "get it right the first time." When managers demand that employees succeed on the first try, teams begin to lean toward the least risky solutions.
Advances in information technology have already enabled a leap forward in developing new generations of products. As information technology continues to evolve, the opportunities to improve product development will become even greater. But with it will come increased risk for companies that are unable to recognize that the product development process is fundamentally different from manufacturing.