- Use test-driven development to minimize the cost of regressions (the largest cost of development)
- This will reduce the cost of product development by reducing the engineering costs associated with developing the product.
- Minimize the time to feedback from your target audience.
- This will reduce the cost of product development by reducing the amount of time spent designing, building, and testing a product that is unwanted by users. Users do not have to be unknown to you, and you can be the user. But a product should solve someone's problem, and if it doesn't solve any problems it's unlikely anyone will ever pay for it.
- Use a proven process to differentiate between bug fixes, improvements, and feature changes.
- A product team will slow down if there is not a clear delineation between the different work that is required to build a product. Often times the product team can avoid certain bug fixes if they know those features will be rewritten by upcoming feature changes -- however if they don't know what's a bug fix and what's a feature change they won't have the necessary information to make this change.
Fri Jul 15 2022
3 Keys to Cost Effective Product Development
Below are the three biggest keys to minimizing your product development cost. They include having your engineering team use test-driven development, minimizing the time it takes to get feedback from your target audience, and using a proven product development process.
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