CFD: a complex mix of Physics, Engineering and Art!The word "Computational" in the phrase "Computational Fluid Dynamics" is simply an adjective to "Fluid Dynamics". Hence, while dealing with aspects of CFD tool or process, it is vitally important to keep the physical understanding of fluid dynamics uppermost in user's mind as CFD has to do with physical problems.Adapted from John D. Anderson, Jr (Computational Fluid Dynamics  The Basics with Applications). We at CFDyna.com believe that any numerical simulation process is not just "Meshing, setting Boundary Conditions, Running Solver and Making Colourful Contour / Vector Plots". The results ultimately needs to be converted into a set of inputs for a robust design of the component of system. The sound knowledge of "underlying fluid mechanics principles and operating conditions of the problem setup" are more important than just knowing how to use the software. Some of the requirements which will help a "CFD practitioners" take correct design decisions based on CFD results are:

Though the industrial flow configurations are far from being closer to these simple geometries, the fundamental ideas contained in them are indispensable to a good understanding of modern computation methods. The methods and results arrived at are important not only for these simple flow but also for the extension of our fundamental knowledge of turbulent flows in general. Methods for dealing with turbulent flow of any industrial applications could be devised only on the basis of the detailed experimental results obtained for them. For example, according to measurements performed by H. Kirsten, the entrance length of a turbulent flow in a pipe is about 50 to 100 diameters. This knowledge is very important in deciding the inlet boundary condition for any industrial internal flow configuration. 
CFD: How to avoid it being the "Colourful Fluid Dynamics"?CFD is a great tool when used with appropriate procedure and guidelines because of its inherent nature of multidisciplinary science leading to technically unlimited potential and applications. Yet, "CFD is not a panacea of all your Flow and Heat Transfer problems without experiencebase insight". Any result must be looked at by an experienced engineer in that field and must go through an "orderofmagnitudecheck" before accepting the results.

Excerts from H. Schilchting All methods for the calculation of turbulent boundary layers are approximate ones and are based on the integral forms of the momentum and energy equations. Since, however, no general expressions for shear and dissipation in turbulent flow can be deduced by purely theoretical considerations, it is necessary to make additional suitable assumptions. These can only be obtained from the results of systematic measurements and, consequently, the calculation of turbulent boundary layers is semiempirical. 
While the usage of CFD simulations in industry is on rise at rapid pace, the credibility of results of any such calculation is still an area of concern. Most organizations using such codes, over time have evolved their own best practice guidelines to minimize the chances of "critical errors". There are many such guidelines issued by ERCOFTAC and AIAA. Following diagram summarizes classifications used to designate the types of error which needs to be addressed when CFD simulations are used to make design decisions beyond extant knowhow of the company. 