Transparency is so important when you work in teams. It helps in building a connection between team members. Transparency will also bring the abilities and inabilities to light. But if the team has been formed with a common goal in mind then team members help each other to succeed.
Now transparency without the urge to succeed or the commitment to progress is the end of the road for many. And that serves right because you are in the team because you want to succeed and you are willing to commit your time and energy for it.
So if you think you might have a few areas that you are not very thorough about I would always recommend that you let your team know so you are able to contribute better before it is late
This is also very true in a customer – vendor relationship. The need to be sure on what can be done and what your capability is and informing it to your customer. Telling the customer that you are not capable of something might loose you an order, but in a good way and often referenced.
The sad part in software services industry is over commitment and under delivery and a direct reason for this is competition and price negotiation.
There are much in a vendor beyond actual capabilities and it is the willingness to be transparent. Being transparent is the first step to being ready.