Can you explain what is meant by technical debt in a project?

Technical debt is the accumulation of shortcuts, compromises, or unfinished work in a project that were made to speed up development but over time complicate maintenance and system evolution. For example, quickly written code without tests or with poor architecture may work now but makes it harder to add new features and fix bugs in the future. Managing technical debt involves regular refactoring, writing tests, and improving documentation to reduce risks and enhance product quality.