I think keeping things as simple as possible and always going for that goal will increase velocity overall. Everything should be subject to scrutiny for promoting productivity and open to modification or removal. I know there is a balance where you have to increase complexity in a team environment but keeping friction as low as possible in terms of process and intellectual weight couldn't hurt.
The most productive place I've seen so far is a huge athletic brand I worked for where they kept teams at max 5 people in mini projects. This forced the idea of low overhead and kept the scale of management needed small. The worst place I worked for in terms of unnecessary complexity is a well known host, although it is the best place to work in terms of people, hired offshore that has a one-size fits all mentality and layered in as much shit as possible to slow down development to a mud crawl. I don't buy into process over productivity.