"Technical debt" in software projects refers to the implied cost of choosing an easy or quick solution now rather than a more comprehensive approach that may be more beneficial in the long run. This concept encompasses the consequences of prioritizing speed over quality, which can lead to increased maintenance and bug-fixing efforts later. Organizations may accumulate technical debt due to rushed timelines or lack of resources, making it challenging to evolve projects over time. Managing technical debt involves recognizing its impacts, planning for timely refactoring, and fostering a culture of quality-focused development to minimize its long-term effects.