What is the relationship between technical debt and business value?

What is the relationship between technical debt and business value?

Technical debt refers to the shortcuts taken in software development that can lead to future problems. It can impact business value by increasing maintenance costs and slowing down innovation.

Can you give me an example of technical debt affecting a business?

Sure! A company might rush to release a product with a lot of quick fixes. Later, they spend more time fixing those issues than developing new features, which can hurt their market position.

How can businesses manage technical debt effectively?

Businesses can manage technical debt by regularly assessing their codebase, prioritizing refactoring, and balancing new features with necessary maintenance.

Is it ever beneficial to incur technical debt?

Yes, sometimes incurring technical debt can be beneficial if it allows a business to quickly launch a product and gain market feedback, as long as there's a plan to address it later.