Debunking common myths related to product development

A large number of companies usually treat product development same as manufacturing whereas both are totally different. As far manufacturing physical objects is concerned, tasks can be repetitive and activities are predictable. Conversely, when it comes to product development, tasks are unique, project requirements keep on changing, and the output can be stored in multiple places at the same time.
The failure to understand these changes often leads to misconceptions about product development. Here, we debunk some common myths related to product development.
Myth 1: Using more resources will improve performance
Usually, companies fully employ their product development resources, believing that it will deliver faster and more efficient results. But practically, this doesn't seem to be true. More often than not, project's efficiency, quality and speed decrease when managers assign the job of product development to different employees, without even considering how skilled they are to perform the job.  
Myth 2: Working in large batches improves economics of the development process
Another factor that delays product development is the batch size. If a project has multiple components, it would be better to design and develop all of them prior to beginning with testing. If you choose to develop only a few components and begin testing, the batch size would be relatively smaller.  
Reducing batch size is beneficial in lean methodology. Small batches expedite work in progress, accelerate feedback and ultimately improve quality as well as efficiency.  
Myth 3: Always stick to the same development plan
It might take a never-ending search to find a product development project whose requirements did not change throughout the design process. A large number of organizations believe that their development plan is perfect and they only need to stick to it. Such organizations relate these deviations with poor management. Sticking to the same plan can be fine for repetitive activities in an established manufacturing process, but can result in poor results in product innovation. Remember, experimenting with different ideas is a key to innovation projects.   
Myth 4: The more features are included in a project, the more customers will like it
Many product developers are under a false belief that adding more features to a product enhances its value while its opposite degrades the value of the product. Whether you are offering services for web or mobile product development, remember that the users like the products with necessary features. Adding too many features won't offer you any benefit, rather it will complicate the functionality for the users who might be reluctant to use your product. Thus, get rid of the fallacy that the more the features, the better a product will be. Include only necessary features and make your application easy to use instead.  
These common fallacies related to product development often restrict the developers from achieving successful results. It is important for any software product development company to understand the difference between a myth and truth in order to know what goes into developing the right application, be it for mobile or web.