It is a well-known fact in the software industry that bugs found later in the design cycle are more expensive to correct than those found earlier. In the worst case, the product ships with uncorrected bugs that require a maintenance release, costly in-the-field upgrades and possibly can damage the reputation of the company.
One of the most cost-effective ways of eliminating bugs very early in the development cycle is to perform source code reviews. In this exercise colleagues study each other’s code with an eye towards finding coding problems. The upfront investment in time and effort saves time and expense later on.