What are major misunderstandings about software development?
There are many great answers here, as this question can be interpreted in many different ways. But from my point of view I would have to say the single greatest misunderstanding in software development over the years, and particularly today, especially as we are trying to refine the agile cycle, speed up rapid development, sprint cycles, pair programming, lean teams, etc… is the gap between client need/requirements and team production.