There is no single definition of technical debt. It is essentially any system in our list of applications that is slowing down our ability to deliver change and innovate quickly. Also, part of that general definition is that technical debt represents any system where the cost to maintain it starts to exceed its value. CIOs say they divert as much as 20 percent of their new technology budgets to resolving tech debt issues. It also represents as much as 40 percent of their entire technology estate according to a recent McKinsey Survey.
Watch the video to learn about Technical Debt. There is a summary below.