Six Myths of Product Development

Six Myths of Product Development

1. "Our development plan is great; we just need to stick to it"

   • Poor result in product innovation
     • Conditions are changing
     • New insights

2. "We will be more successful if we get it right the first time"

   • “getting it wrong the first time” can be the better strategy
     • people iterate rapidly and frequently and learn quickly from their failures

3. "The more features we put into a product, the more customers will like it"

   • There is some features that customers don’t need
   • “less can be more”

4. "High utilization of resources will improve performance"

   • 5% more work = 5% more time to complete
   • Increasing Utilization => Increasing delays lengthen

5. "Processing work in large batches improves the economics of the development process"

   • Small batches => greater utility in product development

6. "The sooner the project is started, the sooner it will be finished"

   • External features can impact your time project and you can’t control it
     • Product development is highly perishable
     • Technology and market can quickly become obsolete

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