6 Myths of Product Development
Oct 19, 2020
My notes from the HBR article '6 Myths of Product Development'.
Oct 19, 2020
My notes from the HBR article '6 Myths of Product Development'.
Link to article –> here
Product development is not analogous to manufacturing - tasks are (mostly) highly variable and not predictable. Adopting a factory approach to product development is counter-productive.
Product quality decreases when resource utilisation is pushed close to 100% by management. Managers don’t appreciate the negative impact of high utilisation.
High utilisation leads to queues which affect economic performance. Due to the nature of the work, it is difficult to observe queues and product work inventory - there are no physical signs.
Better to provide a capacity buffer in processes that are highly variable - e.g. Google 20% days. Easy to say, not so easy to implement! Better to target teams and managers on productive outcome rather than high resource utilisation.
A reduction in active work can help to sharpen focus, as can making WIP visible. Reducing batch size cuts WIP and speeds up feedback which improves cycle time, quality and efficiency.
Batch size should strike a good balance between transaction costs and holding costs. In software/product development, this is the difference between large batches of code every few months to testing smaller batches a few times a day.
Product work is highly variable and so trying to obstinately follow a plan is not appropriate. Plans should be treated as hypotheses that are subject to continuous evolution as we continuously learn.
Less can be more. ‘Simplicity is the ultimate sophistication’ - Leonardo da Vinci.
Problem definition is the hardest and most important part of the innovation process. Invest time here as it sets good context for everything that follows.
Users usually want a solution that ‘just works’.
The push to ‘get it right first time’ should be replaced with a tolerance of ‘getting it wrong first time’. Getting it wrong early is cheaper than finding a problem much later on when the cake is almost baked.
Product development is not analogous to manufacturing!