In episode 43 of the Data Modernization Minute, Wayne Sadin continues his discussion on the recent meltdown of Southwest Airlines as an example of why boards and C-suites should care about technical debt.
00:36 — Wayne defines technical debt as the sum total of all the maintenance that should have been done on an organization’s systems.
01:06 — At the board level, technical debt entails systemically ignoring maintenance. Although it may seem as if a system is running just fine, it still needs updating; not maintaining software creates problems.
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02:27 — C-suite executives must ask, “Are we doing the maintenance we should be to maintain our cybersecurity posture and our capacity to minimize risk?” The C-suite must be accountable while ensuring that it’s allotting the budget to do so. Wayne encourages CIOs, boards, and C-suite execs to be firm and discuss the concept of technical debt.
03:51 — Many organizations are carrying enormous amounts of technical debt. If you’re an investor, be looking at alternative investments and ask questions such as:
- What technical debt am I buying?
- What is it going to cost me when I make an acquisition?
- What impact does this have on my investment risk and my payback over time?
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